Yesterday, our Director was enquiring with me as to who is the Best Bank in India? My obvious answer was State Bank of India - from all angles. Only some magazines now and then carry out surveys and studies to declare X, Y or Z Bank (in public, private or foreign banks categories) to be the No.1 based on some parameters like growth, customer service, per branch business, per branch profit, per employee productivity and so on. Balance Sheet Ratios could be used in so many ways to interpret and substantiate such results.
SBI wins Asian Banker Award
The State Bank has won the prestigious Asian Banker Achievement Award for being the strongest bank in Asia Pacific region, instituted by the Qatar Financial Centre Authority and the Asian Banker magazine.
The award is in recognition to SBI’s combination of financial performance and key business improvements, making it the region’s strongest bank with strong and steady income growth rates of 29 per cent, 14 per cent and 28 per cent for the past three years, the magazine said in the award citation.
Eventhough I left the services of SBI seventeen years back (on 30th April, 1993 ) and being one of the youngest Chief Managers and youngest pensioners of the bank, I keep track of the developments at SBI on a regular basis. First of all, it is my alma mater with whom I grew up for twenty one years having got four merit based promotions in 1977, 1984, 1985 and 1990. And then, I need to update myself with the happenings in the Indian banking industry to teach my students at TAPMI on contemporary issues. I have read that Punjab National Bank and ICICI Bank are contesting with each other for number two status.