State Bank of India (SBI) has been named World’s Best Consumer Bank 2025 by the New York-based financial publication Global Finance at its annual awards ceremony held during the International Monetary Fund/World Bank meetings, the bank announced on Thursday.
Simultaneously, SBI and Global Finance jointly recognised the Indian lender as Best Bank in India 2025.
In its statement, SBI said the twin awards validate its global banking status and reflect the bank’s sustained investment in technology, digital channels and inclusive financial services.
The awards were conferred in recognition of the bank’s ability to deliver “world-class banking experiences” across its vast customer base while maintaining technological leadership and geographic reach.
SBI serves over 520 million customers and adds approximately 65,000 new customers each day, according to commentary by the bank’s Group Chairman, Challa Sreenivasulu Setty.
The bank’s flagship mobile banking app is used by more than 100 million customers, with 10 million daily active users, the bank reported. “Serving 520 million customers and adding 65,000 new customers daily requires significant investment in technology and digitalisation,” Setty said.
Commerce and Industry Minister Piyush Goyal congratulated SBI on the achievement, describing it as an important milestone for India’s banking sector and for financial inclusion efforts.
“Heartiest congratulations to the entire SBI family on this well-deserved recognition,” Goyal commented in a social media post. “SBI’s steadfast commitment to financial inclusion and its continuous efforts to serve every section of society is a testament to the pivotal role it is playing in advancing India’s growth story.”
Industry observers note that the Global Finance awards evaluate banks on criteria such as customer service, innovation in digital banking, market reach and financial performance.
In last month’s research article, Global Finance recognised SBI’s transformation into a digitally-driven, customer-focussed bank with special emphasis on vernacular voice-banking, 24/7 digital support and omni-channel engagement, especially across rural and semi-urban areas.
For SBI, this recognition comes at a time when the bank continues to push its ‘Digital First, Consumer First’ strategy.
The bank has significantly expanded its branch and ATM network, built an integrated digital platform, and launched new services aimed at India’s emerging credit and savings segments.
According to bank-disclosed metrics, it has a deposit base of over Rs 54.7 lakh crore and advances exceeding Rs 42.5 lakh crore as of June 2025.
SBI said the awards “reinforce its position as a global banking leader committed to innovation, financial inclusion and customer excellence.”
In a statement, the bank added that the recognition underscores its large-scale delivery of banking services, technological investments and ability to expand across India’s diverse geography.
As SBI moves into the next phase of its growth, the awards are expected to enhance its brand reputation both domestically and globally, and may help cement partnerships and business expansion.
The bank’s achievement also signals a wider recognition of India’s banking system on the global stage, especially as Indian lenders ramp up digitisation and customer-centric services.
Also Read: Eli Lilly, Cipla to Co-Market Tirzepatide in India Under New Brand