Daijiworld Media Network - Mumbai

Mumbai, Nov 8: After surpassing the ?100 lakh crore business milestone, the State Bank of India (SBI) has set its sights on joining the world’s top 10 most valued banks by 2030, Chairman C.S. Setty announced on Friday.

Speaking at the 12th Banking and Economic Conclave organised by SBI, Setty said the bank aims to strengthen its capital base to sustain long-term growth. “Our internal target is to have a capital adequacy ratio (CAR) of 15% and a core equity tier (CET-1) ratio of 12%,” he said.

As of September 2025, SBI’s CAR stood at 14.62% and CET-1 at 11.47%, inching close to its targets. “We’ve ploughed back a lot of profit in recent years, and capital has never been a constraint for growth,” Setty added.

The milestone includes both advances and deposit liabilities, underscoring SBI’s dominance in India’s banking sector. The bank also joined the $100 billion market capitalisation club alongside HDFC Bank, TCS, Reliance Industries, Bharti Airtel, and ICICI Bank.

In its latest quarterly results, SBI reported a 10% year-on-year rise in net profit to ?20,160 crore for the September 2025 quarter, driven by strong performance in retail, agriculture, and MSME segments, along with gains from a partial stake sale in Yes Bank.