Mumbai, NFAPost: State Bank of India (SBI) intends to hire about 12,000 personnel and add around 250 new branches to its network in the ongoing financial year, according to C S Setty, chairperson of the country’s biggest lender.
“In terms of recruitment, I think we would be looking at around 11,000-12,000 appointments across both clerical and officer cadres this year. This number may vary depending on retirements and emerging requirements, but I expect we should close the year with around 12,000 recruitments,” said SBI Chairperson C S Setty.
He also said last year the bank had done fairly large recruitment because SBI took 1,500 specialist IT officers. “This year, we do not need such a large number on the IT (information technology) side,” said SBI Chairperson C S Setty.
As of March 2026, SBI employed over 2.45 lakh people, making it one of the biggest employers in India. According to the bank’s FY26 annual report, SBI hired 4,640 officers, 19,340 associates and 1,653 contractual workers in 2025–2026, for a total of 25,633 recruits.PlayNextMute
On the branch expansion side, SBI Chairperson C S Setty said that even if they have a large network there is still some white space in many areas, be it new colonies are coming up or even in commercially active districts, the bank’s presence can be improved. “We also are looking at rationalisation of some of the branches, which means that our number broadly will be growing by maybe 200 to 250 per year on the net side,” he added.
About stake dilution in the National Stock Exchange, SBI Chairperson C S Setty said that SBI and its subsidiary, SBI Capital Markets Ltd, together plan to dilute up to 1 % stake through the exchange’s proposed Rs 30,000-crore initial public offering.
“We are participating in that divestment. We propose to divest 0.65% and 0.35% by SBI Capital Markets because both of us hold the stake. So together, about 1% as an SBI group… it could be less depending on any other shareholders joining,” he said.
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