State Bank of India (SBI) has mainly four types of subsidiaries. (AFFILIATES – SBI Corporate Website)
They are listed under.
Banking subsidiaries
They are Associate banks under SBI
State Bank Of Bikaneer and Jaipur (SBBJ)
State Bank Of Hyderabad (SBH)
State Bank Of Mysore (SBM)
State Bank Of Patiala (SBP)
State Bank Of Travancore (SBT)
Non-Banking Subsidiaries
They are non banking subsidiaries under SBI comprising 6 organs
SBI cards and Payments services Ltd.
Credit card issuer under SBI joining with GE Capitals.
SBI Pension Funds Pvt Ltd.
SBI Capital Markets Ltd. (SBICAP)
Financial advisory and investment services company under SBI. It has five subsidiaries. They are,
SBI Funds Management Pvt Ltd
Asset management company under SBI.
SBI Global Factors Ltd.
Forfeiting servicing company under SBI.
SBI DFHI Ltd
Dealing with government security bills and treasury bills etc.
Joint Ventures
They are other Joint venture companies with vast purposes.
SBI Life Insurance Company Ltd (SBI Life)
Joint venture of SBI ( 74% share) and PNB Paribas Cardifo( 26%)
SBI General Insurance Company Ltd.
General Insurance Company under SBI joining with Insurance Australia Group (IAG).
SBI SG Global Securities services Pvt Ltd.
SSBI-SG Global Securities Services Pvt Ltd (SBISGGSS), is a joint venture between State Bank of India (SBI) and SocieteGenerale Securities Services (SGSS). This Joint venture has been set up to offer high quality Custody Services, Fund Accounting & Fund Administration, Risk Analysis & Performance Measurement and Registrar & Transfer Agency Services to domestic investors.
Foreign Subsidiaries
They are foreign subsidiary banks registered under the Brand name of SBI and are registered in their respective countries.
They are, SBI (Canada), SBI (California), SBI (Botswana), SBI (Mauritius), SBI Singapore, Nepal SBI Bank Ltd, Commercial Indo Bank LLC (Russia), Bank of Bhutan Ltd, Bank SBI Indonesia etc.
Other initiatives
SBI has also been tying up with many financial services industries. The last among them is with Reliance to start payment Bank.
