STATE BANK

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list.[11] It is a public sector bank and the largest bank in India[12] with a 23% market share by assets and a 25% share of the total loan and deposits market.[13] It is also the tenth largest employer in India with nearly 250,000 employees.[14][15][16] In 2024, the company’s seat in Forbes Global 2000 was 55.[17]

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STATE BANK SWIFT Code

Country

City

Bank or Institution

SWIFT Code

Mongolia

ULAANBAATAR

STBMMNUB

Mongolia

ULAANBAATAR

STBMMNUBXXX

Total: 2
1

About STATE BANK

Company type
Public
Industry
Banking , financial services
Founded
1 July 1955 ; 69 years ago ( 1955-07-01 ) State Bank of India 27 January 1921 ( 1921-01-27 ) Imperial Bank of India 2 June 1806 ( 1806-06-02 ) Bank of Calcutta 15 April 1840 ( 1840-04-15 ) Bank of Bombay 1 July 1843 ( 1843-07-01 ) Bank of Madras
Headquarters
State Bank Bhawan, M.C. Road, Nariman Point , Mumbai , Maharashtra , India
Key people
Challa Sreenivasulu Setty ( Chairman ) [ 1 ] Kameshwar Rao Kodavanti ( CFO ) [ 2 ]
Products
Retail banking Corporate banking Investment banking Mortgage loans Private banking Wealth management Risk management Asset management Investment management Mutual funds Exchange-traded funds Index funds Credit cards Insurance
Revenue
₹ 4.39 lakh crore (US$51 billion) [ 3 ] (2024)
Number of employees
2,32,296 (31 March 2024) [ 5 ]
Website
sbi .co .in bank .sbi onlinesbi .sbi

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What is a SWIFT code?

A SWIFT code is an 8 or 11 character code used in banking to facilitate transactions and identify the bank.

What is the purpose of a SWIFT code in international transactions?

SWIFT codes are used to route international financial transactions to the correct bank and branch. It facilitates the smooth and accurate transfer of funds between different banks and countries, ensuring that the transactions are processed correctly and securely.

How do I find my bank's SWIFT code?

You can find your bank's SWIFT/BIC code in the statements of your bank account. You can also use our SWIFT/BIC finder to get the right code for your transfer.

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Frequently Asked Questions

1. Why does STATE BANK have different SWIFT Codes?

STATE BANK operates differently across various countries, regions, and branches, with variations in business operations and clearing paths. To accurately identify and process STATE BANK's cross-border payments and other transactions, different SWIFT Codes are used for distinction. Many large multinational banks have unique SWIFT Codes to their headquarters, regional branches, and overseas subsidiaries to ensure precise and secure fund transactions.

2. How do I know which SWIFT Code of STATE BANK to use in a transfer?

It depends on the specific business scenario. For cross-border remittance to a branch of STATE BANK, you can log on to the official website of STATE BANK, or search the current page of XTransfer, or call STATE BANK to inquire about the SWIFT Code of the branch. For international business, you should first coordinate with the relevant branch in the target country and confirm the correct SWIFT Code based on the exact information provided by your business partner.

3. Is there any pattern in the composition of different SWIFT Codes for a multinational bank like STATE BANK?

Usually, SWIFT Code consists of 8 or 11 characters. For STATE BANK, the first 4 digits represent the bank code, which is the same for STATE BANK worldwide; the 5th and 6th digits are the country code; and the 7th and 8th digits are the region code, which will be different for branches in various regions. If the code includes 11 digits, the last 3 digits represent the branch code, which is used to distinguish different branches within the same region.

4. Will the SWIFT Code for STATE BANK be updated or changed?

Yes. When STATE BANK undergoes an organizational restructuring, such as a branch relocation, merger or split, or when there is a significant change in the financial system of the region where STATE BANK is located, its SWIFT Code may be updated and changed. STATE BANK will announce the changes in advance through its official website, mobile banking APP and other channels. Therefore, when handling cross-border business, customers should pay attention to the announcement of STATE BANK in time to confirm the latest SWIFT Code information, so as to avoid affecting the business.

5. Do different SWIFT Codes of STATE BANK support the same scope of business?

The scope of business is different. While the same bank can operate with different SWIFT Codes for the same basic types of business, there are differences for some specialized businesses or for businesses in specific regions. For example, the SWIFT Code of some branches may be specialized to support trade finance business, while the SWIFT Code of other branches is more convenient for cross-border e-commerce collection. In addition, for some emerging markets or country-specific business, only the SWIFT Code of a particular branch may have the authority to process it. When conducting international business, it is important to check whether the SWIFT Code of STATE BANK supports the corresponding business.