Want Every Branch To Be Financial Super Store, Says SBI Chairman CS Setty | Profit Exclusive

The State Bank of India is positioning itself as a comprehensive financial superstore, aiming to be the one-stop destination for a wide array of financial services. With this approach, the public sector lender hopes to hold its position going ahead, Chairman CS Setty said in an exclusive interaction with NDTV Profit.

The bank's ambition to be the best in the country and not simply the largest comes by widening the offerings.

"We would like to position this bank not only as the largest bank in the country, but the best. It means that you are best in customer service to digital. So any bank that is unable to provide a wide array of financial services will find it difficult," he said. This calls for excelling in everything from customer service to digital offerings, according to Chairman.

In today's competitive landscape, a bank's ability to provide a diverse range of financial services is key for success, he said.

"From that angle, it is not only our scale and size that positions us as number one. It is also the gambit of financial services that we are able to provide across the system. We are single financial super store as the customer walks in from SBI," said Setty.

Beyond domestic leadership, SBI is setting its sights on a global stage, with a current focus on breaking into the top 10 global banks by market capitalisation.

The bank acknowledges the constant presence of competition and the need for continuous self-redefinition.

"Competition is always there but we need to face it head on. We need to constantly redefine ourselves, leadership itself with lots of disruptions," he explained.

Setty emphasised adapting to disruptions and evolving leadership to maintain its competitive edge, ensuring SBI remains at the forefront of the financial sector.