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State Bank of India (SBI), with a 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India is the single largest shareholder of this Fortune 500 entity with 59.73% ownership.

State Bank of India, Sydney is one of the Foreign branches of India's largest commercial bank. The State Bank Group has over 18000 branches within India and another 150 offices outside India spread over 32 countries. State Bank of India started its operations on the 23rd Novermber, 1998 when it opened a Representative Office in Sydney. Effective from the 21st April, 2004, the Representative Office was transformed into a full fledged branch. The SBI branch was opened with the objectives, inter alia, to foster the trade between India and Australia through trade finance products and to help Indian Corporates to access the financial market in Australia.

Australian clients can access Indian market knowledge and global expertise via the worldwide specialised resources of the State Bank of India combining local understanding with a wide product range supported by its  India and international network.

State Bank of India are regulated by the Australian Prudential Regulatory Authority (APRA) in Australia. APRA is responsible for regulating much of the financial industry, including insurance and superannuation companies. Institution seeking to be prudentially regulated as an authorised deposit-taking institution (ADI) is required to be authorised under the Banking Act 1959 (the Banking Act). The Australian Prudential Regulation Authority (APRA) is responsible for the authorisation process.