SBI balance sheet surpasses GDP of 175 nations

New Delhi

The State Bank of India (SBI), the country’s largest lender, now contributes 1.1% to the global GDP and 16% to India’s GDP, the bank announced on Tuesday. It plays a key role in implementing government-backed social security schemes, holding over 25% share in them.

Under the Pradhan Mantri Jan-Dhan Yojana, SBI has opened 15 crore accounts. It has also enrolled 14.6 crore people in the Pradhan Mantri Suraksha Bima Yojana, 6.7 crore in the Pradhan Mantri Jeevan Jyoti Bima Yojana, and 1.73 crore in the Atal Pension Yojana.

SBI reported contributing 40% of all public sector banks’ total profits in FY25 and 2.53% of India’s corporate tax collection (AY26). With over 52 crore customers, SBI now serves more people than the population of the USA. Its balance sheet has crossed ₹66 lakh crore, making it larger than the GDP of 175 countries.

The YONO app, SBI’s digital banking platform, has over 8.8 crore users, putting it among the top digital ecosystems globally.

Finance Minister Nirmala Sitharaman congratulated SBI on its 70th anniversary, highlighting its strong network of 23,000 branches, 78,000 customer service points, and 64,000 ATMs. She also praised the bank’s digital transformation and wide outreach, including support to 1.5 crore farmers, 1.3 crore women-led Self Help Groups, 32 lakh street vendors, and 23 lakh MSMEs.

Meanwhile, SBI Mutual Fund launched SmartAssist, an AI-powered WhatsApp chatbot to guide users in learning, investing, and managing mutual funds, making investing simpler and more accessible.