SBI to recruit 9,500 in FY12-13

In FY11-12, the bank’s overall staff strength declined 7,452 employees

June 12, 2012 5:41 IST | India Infoline News Service
India’s largest lender, State Bank of India (SBI) said it plans to recruit 9,500 employees in the financial year 2012-13. The bank’s focus will be on retail banking in the coming years.
In FY11-12, the bank’s overall staff strength declined 7,452 employees, but it has decided to recruit 9,500 clerical staff during 2012-2013 to meet the growing needs of the bank.
As on March 31, 2012, the bank had total permanent staff strength of 2, 15,481, which included 80,404 officers, 95,715 clerical staff and the remaining 39,362 were sub-staff.
SBI has 26% market share in home loan and 17.51% market share in car loan financing last year.
SBI Chairman, Mr Pratip Chaudhuri, said, “The Indian banking scenario is encouraging and positive. Our Bank is expecting a loan growth of 16% and a deposit growth of 20%. As we go forward, the Indian and global economic environment could remain challenging for the next few years.
SBI plans to come out with a medium-term notes (bonds) issue worth about $1 billion before August.
In 2011-12, SBI’s net profit rose by about 42% to Rs 117.07 billion.

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