STATE BANK INDIA.PDF

STATE BANK INDIA.PDF

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  Profile India’s oldest andbiggest bank The State Bank of India is undergoing a momentous transformation. The country’s oldest bank, its largest commercial bank and one of the Top 100 Banks of the world is today stirring out of its public sector legacy and rapidly changing lanes to give the private and foreign banks a run for their money. The 210-year-old public sector behemoth boasts key entities in the entire financial spectrum of India, is a financial conglomerate with over 19 000 branches and 215 000 employees – and is on a global mission to become a truly international bank, offering a full spectrum of services to all. A government of India undertaking, with the government owning 59% of the equity and the balance widely held by public, the State Bank of India (SBI) is headed by Arundhati Bhattacharya, the first woman to lead an India- based  company. The multinational’s vast domestic presence is complemented by its international network of about 198 offices in 38 countries. Guided by the overarching principle of supporting global Indian Corporates and Indian Diaspora worldwide, the bank has expanded its international operations to also target the local populace and has dedicated a separate business unit, the International Banking Group, to this endeavour. Unlocking South Africa’s banking potential With SBI’s International Banking Group having identified South Africa as a priority market, the bank launched its South African operations with a branch in Johannesburg in 1996, catering mainly to the needs of corporate clients and the Indian community. Today, the State Bank of India has seven offices and branches in the country. “In view of the steady and encouraging growth in Indo-SA trade, South Africa’s position as a middle income emerging market economy, its key economic indicators and the large presence of Non-Resident Indians and Persons of Indian Origin population at many centres, the opening of sub-offices in Chatsworth, Laudium, Pietermaritzburg and Port Elizabeth was considered primarily to work as marketing arm of Johannesburg and Durban branches to ease transactions on various levels”, says Regional Head and CEO of State Bank of India, South Africa (SBI SA), Y Suresh Bhat. Boutique banking services SBI SA is fully equipped as a one-stop shop providing a bouquet of financial products and services for large, medium and small customers. “Our primary focus is corporate customers, and growth through syndicated and bilateral loans to Indian companies established or planning to establish their presence in South Africa or other African countries and other local companies,” explains Bhat. SBI SA’s product range for corporate customers include Business Loans, Project Loans, Loan Syndications, Loans to Professionals, Export/Import Finance, Trade Finance including Letters of Credit, Buyer’s/Supplier’s Credit, Guarantees, Foreign Exchange, Forward Exchange Contracts, and more. “We offer excellent personalised service to our clients,” says Bhat proudly. “For retail customers, apart from other regular services, we offer an Online Remittance facility, which is extremely reliable, efficient and secure. The Exchange Rate offered to corporate and retail customers are also highly competitive and service charges for various forex services are comparatively low.” State Bank of India South Africa: Offspring of a Banking Giant By Lucinda Jordaan 1 1India & South Africa - Trade and Investment Partners Mrs. Arundhati BhattaCharya Chairman “SBI SA is fully equipped as a one- stop shop providing a bouquet of financial products and services for large, medium and small customers.”
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  1 1India &South Africa - Trade and Investment Partners Committed to South Africa While SBI SA’s core focus has been on offering trade and corporate finance services to companies in the automotive, infrastructure, mining, power and energy and industrial markets, amongst others, the bank has extended its client reach to include all South Africans and has diversified its books to expand its African footprint, with the aim of increasing its asset base to R10 billion. “We have consistently made a profit in South Africa while complying with all the local regulations. Our balance sheet has been growing consistently, as has our market share,” notes Bhat. With such positive results, the bank is dedicated to contributing to the country’s growth. “We are committed to become one of the reliable partners to foster sustained economic growth in South Africa. In all of South Africa’s endeavours to move further on the path of sustainable growth, SBI SA is committed to offer its support; our commitment to South Africa is deep and long-standing.” Creating jobs and being socially responsible SBI SA contributes directly and indirectly to creating job opportunities in the country. The bank not only facilitates the generation of employment opportunities in South Africa by granting loans and providing financial services to large number of corporate customers, but half its staff complement of about 60 are South Africans. This multinational is arguably also one of the most socially responsible brands, with a host of awards to prove it. “Responsiveness to the needs of the society and responsibility to meet those needs is ingrained in the ethos of our Bank,” declares Bhat. “CSR is not an isolated practice or initiative for the Bank but runs through its entire business paradigm,” he adds, pointing out that The Bank has a comprehensive Corporate Social Responsibility (CSR) Policy, approved by the Executive Committee of the Central Board, and has had various social, educational, environmental, health and welfare initiatives and activities embedded in its practice since 1973. Among its various accolades the State Bank of India has been awarded include: a Magna Awards 2015 as Socially Responsible Bank by Business World Magazine; a Golden Globe Tigers Award by World CSR Day for Excellence & Leadership in CSR as well as one for Innovations in CSR Practices; a Golden Peacock Award for CSR by the Institute of Directors, New Delhi; an Environmental Sustainability Award 2014 by BFSI Magazine; an Asia Sustainability Excellence Award 2014 by World CSR Congress and a Best in Class Corporate Social Responsibility Practices Award 2014 by CMO Asia. “South Africa has a solid infrastructure … and offers abundant opportunities to any businesses that have a long term view of investing here, and also acts as launch pad for further growth in other African countries.”
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  1 1India &South Africa - Trade and Investment Partners A regional roadmap to Africa While it is true that the South African economy has slowed in the last few years, SBI SA has grown at a consistent pace and is confident of its future in the region. “We are positive about the country’s resilience and the competency of and entrepreneurship of its corporates, and our goal is to become a player to be reckoned amongst our peer group in the local banking industry,” says Bhat. “South Africa has a solid infrastructure in terms of good roads, ports, transportation facilities, well-developed financial institutions and capital market. The country is well-connected by road with the neighbouring countries and by way of sea routes to other East and West African countries sharing Indian Ocean and Atlantic Ocean waters, and through air routes with most developing African countries. It offers abundant opportunities to businesses who have a long term view of investing here, and also acts as launch pad for further growth in other African countries,” concludes Bhat. “The bank not only facilitates the generation of employment opportunities in South Africa by granting loans and providing financial services to large number of corporate customers, but half its staff complement of about 60 are South Africans.”