SBI set to hire 13,000 staff in 2009-10
State Bank of India (SBI), the country’s largest bank, is set to continue its hiring spree. The bank, which recruited 33,703 employees at various levels last year, will hire another 13,000 staff this year, reports HT Correspondent.business Updated: Jun 02, 2009 21:07 IST
State Bank of India (SBI), the country’s largest bank, is set to continue its hiring spree. The bank, which recruited 33,703 employees at various levels last year, will hire another 13,000 staff this year.
A senior SBI official said 29,021 of those recruited in 2007-08 had joined last year itself, and integrating these — and further additions —into the bank would be one of the top priorities for the management in 2009-10. Some two-thirds of those employed last year were clerical staff.
SBI is expected to achieve a milestone this year, in terms of reporting over Rs 10,000 crore net profit. It had around 2,00,000 employees at the end of March, 2009. Apart from meeting the staffing need for growth, SBI also need to induct and train new talent as the bank is set to see a large number of retirements in the coming few years.
The bank’s chairman, OP Bhatt, is credited with bringing about operational efficiencies in which have resulted in the cost-to-income ratio declining by 241 basis points to 46.62 per cent in 2008-09. This despite the fact that SBI added 800 branches during the financial year.
SBI’s branch network has crossed the 11,500 mark, including the 92 overseas offices. It plans to open another 1,000 branches in 2009-10.
The senior SBI official said the bank is engaged in a programme for leadership development, as it needs to groom leaders for the future at various levels.
Other challenges envisaged by the bank for 2009-10 are raising productivity, containing overhead costs and keeping the cost-income ratio under control while driving branch and ATM network expansion.