November 6, 2025 – The State Bank of India (SBI) has officially entered the global elite club by crossing a $100 billion (₹8.85 trillion) market capitalisation milestone.
With this achievement, SBI becomes India’s first public sector bank to hit this level and the third-largest Indian bank overall, just behind HDFC Bank and ICICI Bank.
The milestone follows its strong Q2 FY26 performance, where SBI also became the first Indian bank to cross ₹100 trillion in total business — a rare double achievement in both balance sheet size and market value.
According to CompaniesMarketCap.com, SBI now ranks #209 globally, placing it among the world’s top 250 listed companies.
SBI’s $100 Billion Moment: Where It Stands in India
| Rank | Bank / Company | Market Cap (USD) | Market Cap (INR) | Sector |
|---|---|---|---|---|
| 1 | HDFC Bank | $183.64 Billion | ₹15.6 Trillion | Private Bank |
| 2 | ICICI Bank | $108.49 Billion | ₹9.21 Trillion | Private Bank |
| 3 | State Bank of India (SBI) | $99.71 Billion | ₹8.857 Trillion | Public Sector Bank |
At a share price of ₹959.55 (~$10.80), SBI’s market value has surged 15.34% over the past year in rupee terms and 9.22% in USD, reflecting renewed investor confidence and foreign inflows.
Forget the old days when PSU stocks lagged. SBI’s 2025 success is not a government booklet—it’s earned! They’re winning because of strong basics, great digital tech, and smart, profitable business decisions.
From ₹100 Trillion in Business to $100 Billion in Market Value
Just a quarter earlier, SBI became India’s first bank ever to cross ₹100 trillion in total business (deposits + advances). Its Q2 FY26 results highlighted stable asset quality and improved margins.
| Key Metric | FY25 | FY26 | YoY Change |
|---|---|---|---|
| Total Business | ₹90.37 Trillion | ₹100.11 Trillion | +10.8% |
| Net Profit (Q2) | ₹18,331 Cr | ₹20,160 Cr | +9.97% |
| Gross NPA Ratio | 2.13% | 1.73% | –40 bps |
| Accounts via YONO | 57% | 64% | +7% Growth |
“Crossing $100 billion is not just a market number — it’s a reflection of trust, consistency, and transformation,” said a senior SBI official.
Digital Transformation Still the Core Engine
SBI’s YONO app continues to lead the bank’s transformation.
Nearly 98.6% of transactions are now digital or through alternative channels, while 64% of new savings accounts were opened via YONO in Q2 FY26.
Unlike the old narrative that PSU banks move slowly, SBI’s digital-first scale has now become its biggest strength — bridging India’s financial inclusion and modern banking experience.
The Bottom Line
SBI’s $100 billion valuation marks a new era for Indian banking — proof that the public sector can perform like a private, and compete like a global.
From ₹100 trillion in business to $100 billion in market cap, India’s largest bank has now become its most trusted brand on the global scoreboard.
EaseMoney View:
SBI’s milestone isn’t just a number — it’s a statement.
2025 is the year India’s public banking legacy finally matched private excellence, and did it at a world scale.
Back Story – SBI Q2 Results: Bank Crosses ₹100 Trillion + 9.97% Profit, and Leads Digital Growth via YONO
