At State Bank of India, we habitually strive to be a friendly and efficient bank for our customers to do business with. Holding a preeminent leadership position in the Retail, Agri and SME marketplaces, we are continuously investing and innovating to keep raising the bar for customer service and experience.

With YONO, we have set a new benchmark for product accessibility and customer convenience. We believe that through modernisation and advancement from the judicious use of technology, we can partner with our customers and strengthen their loyalty to your Bank.

FY2019 was a year of strong performance for State Bank of India. With a portfolio exceeding ` 6.50 lakh crore in our Retail Personal Banking, we clearly led the pack within the financial marketplace. The Retail and Digital Banking Group consists of eight strategic business units and is the largest in India in terms of its branch network and human resources. Retail Banking is our most critical segment, both in terms of resource gathering through CASA and Term Deposits growth as well as extending customised credit for the basic requirements of customers. We continue to see a strong momentum in customer acquisition across the country, thereby ensuring a steady growth in retail deposits. Simultaneously, to meet the aspirations of this growing customer base, retail assets are being strategically positioned with a view to occupy a much larger proportion of total advances.

The evolving digital landscape is a key driver that is changing the way in which customers interact with their banks. A steady stream of technology driven innovations, necessitated by changing customer preferences, is transforming our retail banking landscape.

At State Bank of India, we have an evolved multi-channel delivery model, which allows our customers to carry out transactions through any channel, at any time or place. In particular, we have made impressive progress in enhancing client convenience by making our offerings from your Bank and our subsidiaries available in one place. To this end, we have made significant progress with our flagship venture, YONO, which is India’s fastest growing omni-channel. This venture offers Banking, Insurance, and Investment products, as well as unmatched service and shopping experience, in one place.

Launched as recently as in November 2017, YONO now serves as a Digital Bank, an Online Market Place, and a Financial Super Store. it offers services from e-commerce companies, including online shopping, travel planning, taxi booking, online education, and offline retail. With over 2 crore downloads and more than 73.49 lakh registrations in FY2019 for YONO alone, it has approximately 27.50 lakh savings bank accounts opened on its platform.

YONO can be accessed through Android and iOS powered mobile phones, and on the web through a browser, allowing for a seamless omni-channel customer experience.

YONO is also among the top five finance applications on the App Store and Play Store. Since the launch of YONO, State Bank of India has further added 25 new e-merchants including IRCTC, Book My Show, SOTC, Expedia, kindle, booking.com, and Mozarto; along with auto majors like Tata Motors, Hyundai, and Ford, amongst others on the YONO Online Marketplace, bringing the total number of merchants available on the platform to 89.

Your Bank has also signed an MoU to collaborate with Reliance JIO to offer special connectivity and device solutions for all State Bank of India customers. YONO SBI is a big leap forward for improving the digitisation of financial and lifestyle services in the country.

Being the Banker to the Nation, your bank is at the vanguard of serving people previously left out of the formal financial system. In addition to this, our Business Correspondents channel with 57,467 outlets, has now reached a break-even and is making a positive contribution to your Bank. State Bank of India is focusing on leveraging its large customer base and strong backend, to unlock opportunities for offering selected lending services at highly competitive price points.

State Bank of India is committed towards transforming itself into a digitalised organisation, supported by technology enabled backend operations.

Home loans on our online venture, YONO, is a significant step towards digitisation, which services our registered user’s needs, 24*7.

Your Bank has a leading market share across digital channels. Transactions through our alternate business channels is 88.1%, of which around 31.7% is from ATMs and CDMs. Within our retail portfolio,Home and Auto loans are the major contributors. We want to assist our customers, who wish to buy a home with State Bank of India, to do so with ease and speed. Therefore, home loans on our online venture,YONO, is a significant step towards digitisation, which services our registered users’ needs, 24*7. Our home loan portfolio (Inclusive of top up loans) has crossed the ₹ 4 lakh crore mark and is by far the largest portfolio of any bank / NBFC.

As we work through FY2020, your Bank also remains the largest dispenser of education loans, which demonstrates its unflinching commitment to serve our society at large. We are a pioneer and market leader in Agri financing. Our services cover the whole range of agriculture and allied activities with some of the unique features like low interest rates, no intermediaries, no hidden cost, quick loan sanction, and loan disbursement. Our products cover the entire gamut of agricultural activities from Farm to Fork. Furthermore, in our SME and MSME business, we focus on generating better returns from our assets and equity. State Bank of India has always held SMEs as an important segment, considering the role being played by them in the Indian economy in terms of their contribution to manufacturing output, exports and employment generation. Being committed to providing Simple and Innovative Financial Solutions, your Bank’s approach in driving SME growth rests on the following three pillars namely, customer convenience, risk mitigation, and technology based digital offerings and process improvements.

In the year under review, we maximised our reach through dedicated Asset Management teams for efficiently running end-to-end customer relationships. In addition to this, GST has brought transparency in the business and is helping in monitoring our exposures in a more enhanced way. Besides, our credit underwriting engine concentrates on cash flow financing, analytics for improved underwriting, and TAT. Our SME portfolio stands at ₹ 2,88,583 crore of which MSME is at ₹ 2,33,294 crore.