New Delhi/Washington, D.C.: India’s largest public sector bank, the State Bank of India (SBI), has achieved a significant global milestone. The bank has been named the ‘World’s Best Consumer Bank 2025’ by the prestigious Global Finance magazine. Alongside this global title, SBI also secured the award for ‘Best Bank in India’.
The awards were presented at the ‘World’s Best Bank Awards Ceremony 2025’ in Washington, D.C., held during the annual meetings of the IMF and World Bank.
Union Minister of Commerce and Industry, Piyush Goyal, congratulated the bank for this achievement through a post on ‘X’ (formerly Twitter). Sharing a video clip of the ceremony, he wrote, “Proud to see our very own State Bank of India honoured with two prestigious titles by Global Finance, New York, at the 2025 Best Bank Awards Ceremony for its outstanding service & customer trust worldwide.”
Mr. Goyal added, “Heartiest congratulations to the entire SBI family on this well-deserved recognition. SBI’s steadfast commitment to financial inclusion & its continuous efforts to serve every section of society is a testament to the pivotal role it is playing in advancing India’s growth story.”
What Happened at the Ceremony: Host Praises SBI
As seen in the video, a representative from Global Finance (likely founder Joseph Giarraputo) announced the award with high praise for the Indian bank.
The host stated, “Not only picking up the Best Bank in India… and a global winner for the first time in Global Finance’s awards. With over 500 million customers through its vast network, this bank has done an excellent job on focusing on customer engagement, digital transformation, and expanding accessibility in one of the world’s most dynamic markets.”
He then announced, “Your ‘World’s Best Consumer Bank’… is State Bank of India (SBI).”
SBI Chairman C.S. Setty: “We Have 520 Million Customers”
SBI Chairman, Shri C.S. Setty, accompanied by two other officials, accepted the award on stage. In his acceptance speech, Chairman Setty thanked Global Finance for the honor.
He offered a minor correction to the host’s customer count, stating, “Just a correction, we have 520 million customers. And we add 65,000 customers every day.”
Describing SBI as a “digital-first, consumer-first bank,” he added, “You can’t serve at scale unless you invest heavily into technology and digitalization.” Chairman Setty also highlighted the success of the bank’s flagship mobile banking application (YONO), which has nearly 100 million customers, with 10 million customers logging in daily.
He concluded his speech by stating the bank is committed to remaining the “best consumer bank” and hopes that “soon Global Finance recognizes us as ‘Best Bank in the World’.”
Also Read | State Bank of India: First Asian Bank to Win Global Consumer Banking Crown
