Case | HBS Case Collection | March 2011 (Revised April 2011)

State Bank of India: Transforming a State Owned Giant

by Rajiv Lal and Rachna Tahilyani


February 2011: O.P. Bhatt reflected contentedly on his five-year term as Chairman of State Bank of India (SBI), India's largest commercial bank. He had led SBI on a journey of transformation from an old, hierarchical, transaction oriented, government bank to a modern, customer focused, and technologically advanced universal bank. In 2006, when Bhatt assumed leadership, SBI had been losing market share for over two decades to private and foreign banks. Analysts and industry observers had predicted that at the prevailing growth rates ICICI Bank, a private bank launched in 1994, would overtake SBI in terms of deposits in four years. However, by 2010, SBI had more than doubled its profits, deposits and advances; regained market share and won the Asian Banker Achievement award for the strongest bank in the Asia Pacific region.

Keywords: Transformation; Customer Relationship Management; Commercial Banking; Leading Change; Growth and Development Strategy; Marketing; Organizational Change and Adaptation; Banking Industry; India;


Lal, Rajiv, and Rachna Tahilyani. "State Bank of India: Transforming a State Owned Giant." Harvard Business School Case 511-114, March 2011. (Revised April 2011.)