About State Bank of India (California)
State Bank of India (California) is a full-service financial institution, offering an extensive portfolio of lending solutions as well as comprehensive consumer, business, and international services. The Bank was established in 1982 as a California State Chartered Bank under the Department of Financial Institutions in Los Angeles, California. At present, we have a total of seven branches throughout California with our headquarters located in Downtown Los Angeles.
Through its branch and online network, SBIC has a strong presence and specialization in specific business sectors and expanded strategic markets.
SBIC is dedicated to servicing our customers and community throughout California and now through our online account opening platform, across United States.
At State Bank of India (California) (SBIC), each one of us is committed to offering you only the best because we believe that your success is our success. Our range of highly personalized financial services is tailored to meet your needs. We are sure your experience with us will be a memorable one. We thrive on building long-term relationships with our clients, which is deeply rewarding to each one of us at SBIC. We give every individual the highest priority and constantly seek better ways to serve our customers.
State Bank of India (California) is a fully owned subsidiary of State Bank of India, one of the largest banks in the world and a Fortune 500 company, with controlling ownership by the government of India. Through the support of our clients, SBIC has grown steadily over the years.
State Bank of India (SBI)
Parent Bank & History
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. After its Merger with 5 associate Banks namely State Bank of Bikaner & Jaipur(SBBJ), State Bank of Mysore(SBM), State Bank of Travancore(SBT), State Bank of Hyderabad(SBH), and State Bank of Patiala(SBP) with effect from April 1, 2017, State Bank of India is now among the top 50 Banks in the World.
The origins of 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 and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India.
SBI has an extensive network, with over 22,500 plus branches in India and another 190 offices in 36 countries across the world.
SBI's non-banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership, making the SBI group a truly large financial supermarket and India's financial icon. SBI has arrangements with over 1,500 various international/local banks to exchange financial messages through SWIFT in all business centers of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.