State Bank of India (SBI), the country's largest lender, has been named Financial Powerhouse of the Year (PSU) at the NDTV Profit Business Leadership Awards 2026, held at Mumbai's iconic Taj Mahal Palace Hotel.
The award recognises a public sector financial institution that has demonstrated sustained scale, financial strength and leadership in India's banking ecosystem. SBI emerged ahead of a strong field of nominees that included Punjab National Bank, Indian Bank, Union Bank of India, Power Finance Corporation, Canara Bank and Bank of Baroda.
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The recognition comes at a time when SBI continues to strengthen its position as India's biggest banking franchise. According to the bank, it serves more than 50 crore customers through a network of over 23,000 branches, 63,000-plus ATMs and ADWMs, and nearly 83,000 banking correspondents, while also maintaining operations in 29 countries.
SBI has also been adding to its list of milestones in recent months. The lender became India's fourth most valuable listed company by market capitalisation, overtaking Tata Consultancy Services (TCS), according to PSU Connect. Separately, Outlook Business reported that SBI posted quarterly net profit of more than Rs 21,000 crore, reinforcing its leadership in corporate profitability. Global Finance magazine also named SBI the World's Best Consumer Bank for 2026, citing its digital transformation and scale.
A Fortune 500 company, SBI traces its legacy back more than 200 years and has expanded beyond traditional banking through subsidiaries including SBI Life Insurance, SBI General Insurance, SBI Mutual Fund and SBI Card. The bank says its vision is to be the bank of choice for a transforming India, with a focus on innovation, customer-centric services and sustainable banking.
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The Financial Powerhouse of the Year (PSU) category recognises banks, NBFCs, insurers, asset managers and other financial institutions that have demonstrated leadership in growth, governance, capital strength, innovation and trust while contributing to India's economic expansion.
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