The origins of the State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal was amalgamated with Bank of Madras and Bank of Bombay to form the Imperial Bank of India. '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 61.58% ownership. SBI is ranked 60th in the list of Top 1000 Banks in the world by "The Banker" in July 2012.
State Bank of India, DIFC Branch, was established in January 2007, with a vision to synergise the trade and industrial business related banking requirements between India and the UAE. It was a Category 4 branch under the license of DFSA to begin with and has upgraded its license to Category 1 branch from October 2008.