List of Directors on the Central Board of State Bank of India (As on 10th August 2012) Sr. Name No.

1 2 3 4 5 6 7 8 Shri Pratip Chaudhuri Shri Hemant G. Contractor Shri Diwakar Gupta Shri A. Krishna Kumar Shri Dileep C. Choksi Shri S. Venkatachalam Shri D. Sundaram Shri Parthasarathy Iyengar Shri Jyoti Bhushan Mohapatra Dr. Rajiv Kumar Shri Deepak Ishwarbhai Amin Shri D. K. Mittal Dr. Subir V. Gokarn Designation Under Section of SBI Act 1955 19 (a) 19 (b) 19 (b) 19 (b) 19 (c) 19 (c) 19 (c) 19 (c)

Chairman Managing Director Managing Director Managing Director Director Director Director Director Workmen Employee Director Director Director Director Director

9 10 11 12 13

19 (ca) 19 (d) 19 (d) 19 (e) 19 (f)

TRANSFORMATION JOURNEY IN STATE BANK OF INDIA [Print Page]

The State Bank of India, the countrys oldest Bank and a premier in terms of balance sheet size, number of branches, market capitalization and profits is today going through a momentous phase of Change and Transformation the two hundred year old Public sector behemoth is today stirring out of its Public Sector legacy and moving with an agility to give the Private and Foreign Banks a run for their money.

The bank is entering into many new businesses with strategic tie ups Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc each one of these initiatives having a huge potential for growth.

The Bank is forging ahead with cutting edge technology and innovative new banking models, to expand its Rural Banking base, looking at the vast untapped potential in the hinterland and proposes to cover 100,000 villages in the next two years.

It is also focusing at the top end of the market, on whole sale banking capabilities to provide Indias growing mid / large Corporate with a complete array of products and services. It is consolidating its global treasury operations and entering into structured products and derivative instruments. Today, the Bank is the largest provider of infrastructure debt and the largest arranger of external commercial borrowings in the country. It is the only Indian bank to feature in the Fortune 500 list.

The Bank is changing outdated front and back end processes to modern customer friendly processes to help improve the total customer experience. With about 8500 of its own 10000 branches and another 5100 branches of its Associate Banks already networked, today it offers the largest banking network to the Indian customer. The Bank is also in the process of providing complete payment solution to its clientele with its over 21000 ATMs, and other electronic channels such as Internet banking, debit cards, mobile banking, etc.

With four national level Apex Training Colleges and 54 learning Centres spread all over the country the Bank is continuously engaged in skill enhancement of its employees. Some of the training programes are attended by bankers from banks in other countries.

The bank is also looking at opportunities to grow in size inIndia as well as Internationally. It presently has 173 foreign offices in 33 countries across the globe. It has also 7 Subsidiaries in India SBI Capital Markets, SBICAP Securities, SBI DFHI, SBI Factors, SBI Life and SBI Cards - forming a formidable group in the Indian Banking scenario. It is in the process of raising capital for its growth and also consolidating its various holdings.

Throughout all this change, the Bank is also attempting to change old mindsets, attitudes and take all employees together on this exciting road to Transformation. In a recently concluded mass internal communication programme termed Parivartan the Bank rolled out over 3300 two day workshops across the country and covered over 130,000 employees in a period of 100 days using about 400 Trainers, to drive home the message of Change and inclusiveness. The workshops fired the imagination of the employees with some other banks in India as well as other Public Sector Organizations seeking to emulate the programme.

The CNN IBN, Network 18 recognized this momentous transformation journey, the State Bank of India is undertaking, and has awarded the prestigious Indian of the Year Business, to its Chairman, Mr. O. P. Bhatt in January 2008.

The elephant has indeed started to dance. EVOLUTION OF SBI [Print Page]

The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first jointstock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. Primarily Anglo-Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework.

Bank of Bengal H.O.

Establishment The establishment of the Bank of Bengal marked the advent of limited liability, joint-stock banking in India. So was the associated innovation in banking, viz. the decision to allow the Bank of Bengal to issue notes, which would be accepted for payment of public revenues within a restricted geographical area. This right of note issue was very valuable not only for the Bank of Bengal but also its two siblings, the Banks of Bombay and Madras. It meant an accretion to the capital of the banks, a capital on which the proprietors did not have to pay any interest. The concept of deposit banking was also an innovation because the practice of accepting money for safekeeping (and in some cases, even investment on behalf of the clients) by the indigenous bankers had not spread as a general habit in most parts of India. But, for a long time, and especially upto the time that the three presidency banks had a right of note issue, bank notes and government balances made up the bulk of the investible resources of the banks. The three banks were governed by royal charters, which were revised from time to time. Each charter provided for a share capital, four-fifth of which were privately subscribed and the rest owned by the provincial government. The members of the board of directors, which managed the affairs of each bank, were mostly proprietary directors representing the large European managing agency houses in India. The rest were government nominees, invariably civil servants, one of whom was elected as the president of the board.

Group Photogaph of Central Board (1921)

Business The business of the banks was initially confined to discounting of bills of exchange or other negotiable private securities, keeping cash accounts and receiving deposits and issuing and circulating cash notes. Loans were restricted to Rs.one lakh and the period of accommodation confined to three months only. The

security for such loans was public securities, commonly called Company's Paper, bullion, treasure, plate, jewels, or goods 'not of a perishable nature' and no interest could be charged beyond a rate of twelve per cent. Loans against goods like opium, indigo, salt woollens, cotton, cotton piece goods, mule twist and silk goods were also granted but such finance by way of cash credits gained momentum only from the third decade of the nineteenth century. All commodities, including tea, sugar and jute, which began to be financed later, were either pledged or hypothecated to the bank. Demand promissory notes were signed by the borrower in favour of the guarantor, which was in turn endorsed to the bank. Lending against shares of the banks or on the mortgage of houses, land or other real property was, however, forbidden. Indians were the principal borrowers against deposit of Company's paper, while the business of discounts on private as well as salary bills was almost the exclusive monopoly of individuals Europeans and their partnership firms. But the main function of the three banks, as far as the government was concerned, was to help the latter raise loans from time to time and also provide a degree of stability to the prices of government securities.

Old Bank of Bengal

Major change in the conditions A major change in the conditions of operation of the Banks of Bengal, Bombay and Madras occurred after 1860. With the passing of the Paper Currency Act of 1861, the right of note issue of the presidency banks was abolished and the Government of India assumed from 1 March 1862 the sole power of issuing paper currency within British India. The task of management and circulation of the new currency notes was conferred on the presidency banks and the Government undertook to transfer the Treasury balances to the banks at places where the banks would open branches. None of the three banks had till then any branches (except the sole attempt and that too a short-lived one by the Bank of Bengal at Mirzapore in 1839) although the charters had given them such authority. But as soon as the three presidency bands were assured of the free use of government

Treasury balances at places where they would open branches, they embarked on branch expansion at a rapid pace. By 1876, the branches, agencies and sub agencies of the three presidency banks covered most of the major parts and many of the inland trade centres in India. While the Bank of Bengal had eighteen branches including its head office, seasonal branches and sub agencies, the Banks of Bombay and Madras had fifteen each.

Bank of Madras Note Dated 1861 for Rs.10

Presidency Banks Act The presidency Banks Act, which came into operation on 1 May 1876, brought the three presidency banks under a common statute with similar restrictions on business. The proprietary connection of the Government was, however, terminated, though the banks continued to hold charge of the public debt offices in the three presidency towns, and the custody of a part of the government balances. The Act also stipulated the creation of Reserve Treasuries at Calcutta, Bombay and Madras into which sums above the specified minimum balances promised to the presidency banks at only their head offices were to be lodged. The Government could lend to the presidency banks from such Reserve Treasuries but the latter could look upon them more as a favour than as a right.

Bank of Madras The decision of the Government to keep the surplus balances in Reserve Treasuries outside the normal control of the presidency banks and the connected decision not to guarantee minimum government balances at new places where branches were to be opened effectively checked the growth of new branches after 1876. The pace of expansion witnessed in the previous decade fell sharply although, in the case of the Bank of Madras, it continued on a modest scale as the profits of that bank were mainly derived from trade dispersed among a number of port towns and inland centres of the presidency.

India witnessed rapid commercialisation in the last quarter of the nineteenth century as its railway network expanded to cover all the major regions of the country. New irrigation networks in Madras, Punjab and Sind accelerated the process of conversion of subsistence crops into cash crops, a portion of which found its way into the foreign markets. Tea and coffee plantations transformed large areas of the eastern Terais, the hills of Assam and the Nilgiris into regions of estate agriculture par excellence. All these resulted in the expansion of India's international trade more than six-fold. The three presidency banks were both beneficiaries and promoters of this commercialisation process as they became involved in the financing of practically every trading, manufacturing and mining activity in the sub-continent. While the Banks of Bengal and Bombay were engaged in the financing of large modern manufacturing industries, the Bank of Madras went into the financing of large modern manufacturing industries, the Bank of Madras went into the financing of small-scale industries in a way which had no parallel elsewhere. But the three banks were rigorously excluded from any business involving foreign exchange. Not only was such business considered risky for these banks, which held government deposits, it was also feared that these banks enjoying government patronage would offer unfair competition to the exchange banks which had by then arrived in India. This exclusion continued till the creation of the Reserve Bank of India in 1935.

Bank of Bombay

Presidency Banks of Bengal The presidency Banks of Bengal, Bombay and Madras with their 70 branches were merged in 1921 to form the Imperial Bank of India. The triad had been transformed into a monolith and a giant among Indian commercial banks had emerged. The new bank took on the triple role of a commercial bank, a banker's bank and a banker to the government. But this creation was preceded by years of deliberations on the need for a 'State Bank of India'. What eventually emerged was a 'half-way house' combining the functions of a commercial bank and a quasi-central bank.

The establishment of the Reserve Bank of India as the central bank of the country in 1935 ended the quasi-central banking role of the Imperial Bank. The latter ceased to be bankers to the Government of India and instead became agent of the Reserve Bank for the transaction of government business at centres at which the central bank was not established. But it continued to maintain currency chests and small coin depots and operate the remittance facilities scheme for other banks and the public on terms stipulated by the Reserve Bank. It also acted as a bankers' bank by holding their surplus cash and granting them advances against authorised securities. The management of the bank clearing houses also continued with it at many places where the Reserve Bank did not have offices. The bank was also the biggest tenderer at the Treasury bill auctions conducted by the Reserve Bank on behalf of the Government. The establishment of the Reserve Bank simultaneously saw important amendments being made to the constitution of the Imperial Bank converting it into a purely commercial bank. The earlier restrictions on its business were removed and the bank was permitted to undertake foreign exchange business and executor and trustee business for the first time.

Imperial Bank The Imperial Bank during the three and a half decades of its existence recorded an impressive growth in terms of offices, reserves, deposits, investments and advances, the increases in some cases amounting to more than six-fold. The financial status and security inherited from its forerunners no doubt provided a firm and durable platform. But the lofty traditions of banking which the Imperial Bank consistently maintained and the high standard of integrity it observed in its operations inspired confidence in its depositors that no other bank in India could perhaps then equal. All these enabled the Imperial Bank to acquire a pre-eminent position in the Indian banking industry and also secure a vital place in the country's economic life.

Stamp of Imperial Bank of India

When India attained freedom, the Imperial Bank had a capital base (including reserves) of Rs.11.85 crores, deposits and advances of Rs.275.14 crores and Rs.72.94 crores respectively and a network of 172 branches and more than 200 sub offices extending all over the country.

First Five Year Plan In 1951, when the First Five Year Plan was launched, the development of rural India was given the highest priority. The commercial banks of the country including the Imperial Bank of India had till then confined their operations to the urban sector and were not equipped to respond to the emergent needs of economic regeneration of the rural areas. In order, therefore, to serve the economy in general and the rural sector in particular, the All India Rural Credit Survey Committee recommended the creation of a state-partnered and statesponsored bank by taking over the Imperial Bank of India, and integrating with it, the former state-owned or state-associate banks. An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955. More than a quarter of the resources of the Indian banking system thus passed under the direct control of the State. Later, the State Bank of India (Subsidiary Banks) Act was passed in 1959, enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries (later named Associates). The State Bank of India was thus born with a new sense of social purpose aided by the 480 offices comprising branches, sub offices and three Local Head Offices inherited from the Imperial Bank. The concept of banking as mere repositories of the community's savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking subserving the growing and diversified financial needs of planned economic development. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the exciting field of national development.

BANKING SUBSIDIARIES ASSOCIATE BANKS

[Email Page] [Print Page]

State Bank of India has the following five Associate Banks (ABs) with controlling interest ranging from 75% to 100%. 1. State Bank of Bikaner and Jaipur (SBBJ) 2. State Bank of Hyderabad (SBH) 3. State Bank of Mysore (SBM) 4. State Bank of Patiala (SBP) 5. State Bank of Travancore (SBT) As on June 30, 2011, the five ABs have a combined network of 4748 branches in India which are on core banking and 4713 ATMs networked with SBI ATMs, providing value added services to clientele. The combined net profit of these banks increased by 10.67% over the previous year to reach Rs.735.79 crores as on 30th June 2011. Deposits and advances grew by 12.39% and 16.32%, respectively, during the year. The combined Net NPA ratio of all ABs was at 1.12% as on 30th June 2011.The highlights of performance of the five ABs for the quarter ended June 11 are as follows: (Rs. In crores) Deposits Loans 317581 240601

Investments 97439 Total Assets 378565 Return on Assets No. of Branches Url SBBJ SBH SBM www.sbbjbank.com www.sbhyd.com www.mysorebank.com 0.79% 4748

SBP SBT

www.sbp.co.in www.statebankoftravancore.com

SBICI Bank Ltd (Banking Subsidiary, fully owned by SBI): SBICI Bank Ltd has two branches, fully computerised, operating in Mumbai. The Bank recorded a net profit of Rs.0.27 crore during quarter ended June 11. Deposits, Loans and Investments were at Rs.416.89 crore, Rs.233.95 crore and Rs.304.40 crore, respectively, as at 30th June 2011. Return on Assets was at 0.17% while Capital Adequacy Ratio stood at 29.67% as on 30.6.2011. The Bank has since been acquired by SBI on 29.07.2011.

SBI International (Mauritius) Ltd., Offshore Bank (A subsidiary of State Bank of India) State bank of India International (Mauritius) Ltd is one of the first offshore banks to be established in Mauritius in 1990, with a paid up capital of USD 10 Million. The Bank has had a consistent record of having earned profits since its very first year of operations. SBIIML, with the expertise of its management and personnel, is customer focussed, and offers to all its clients, all over the world, high quality, cost effective professional services and innovative products. The Bank lays emphasis on technology, which is an integral part of its operations having a significant impact on services rendered. It has, presently, clients spread over 40 countries. The principal activities include:

Acceptance of deposits in foreign currencies mainly US Dollar, Pound Sterling, Euro and also other currencies. Attractive rates of interest are offered.

International remittances in all major currencies through SWIFT, quickly and effectively. Loans/syndications in major currencies, like Euro/Dollar/Japanese Yen. Trade Services, including issuance of/negotiations under documentary letters of credits and issuance of bank guarantees. Hedging of exchange and interest rate risks on behalf of customers. Sales and Purchases of foreign currencies in the Spot and Forward Market. Rendering custodial services for offshore funds registered in Mauritius. Products tailored to suit the requirements of customers.

The Bank adopts the best Corporate Governance practices, and comprehensive risk management policies and systems ensure effective control of risks. A strong capital base, and near zero non-performing assets further add to the strength and stability of the Bank. FINANCIAL PERFORMANCEAS ON 31.03.2004 ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities Total DEPLOYMENT Investments & Placements Advances All other Assets 37.84 132.42 6.67 165.43 578.91 29.16 19.10 112.39 38.14 7.30 176.93 83.50 491.34 166.74 31.91 773.49 USD MIO RS. IN CRORES

Total Assets NET PROFIT CONTACT DETAILS: Address

176.93 1.14

773.50 4.98

SBI International (Mauritius) Ltd., 7th floor, Harbour Front Building, President John Kennedy Street, Port Louis Tel.:(230)212 2054/2055. 2101485, 2102651 FAX: (230) 2122050 Cable:Bankofshor SWIFT:INILMUMU Contact Person: M C Mulay -Managing Director. Note : The above information is liable to change. Current position should be ascertained from the Bank.

STATE BANK OF INDIA (CALIFORNIA) State Bank of India (California), a wholly owned subsidiary in California is a California State Chartered Bank and a member of the Federal Deposit Insurance Corporation. With eight full service branches, the Bank caters to the Banking needs of the community, ethnic and non-ethnic alike, through various deposit and loan schemes. SBIC takes prides in providing state-of-the-art remittance facility to its customers. The Bank also provides Internet Banking, Tele-Banking, ATM service and Credit Cards.

FINANCIAL PERFORMANCE AS ON 31.03.2009

ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities Total DEPLOYMENT Investments & Placements Advances All other Assets Total Assets NET PROFIT CONTACT DETAILS: Address State Bank of India (California), 707 Wilshire Blvd. 19th Floor, Suite 1995 Los Angeles CA 90017, USA Tel.:(213)623-7250 FAX: (213)622-2069/622-8082

USD MIO

RS. IN CRORES

89.01 571.45 84.65 4.21 749.32

451.46 2898.39 429.35 21.35 3800.55

178.26 497.05 74.01 749.32 3.12

904.13 2521.04 375.38 3800.55 15.82

Cable:SBIC SWIFT:SBCAUS6L Contact Person: Mr. Dinesh Pandey-President & CEO For more details on our subsidiary, visit www.sbical.com Note : The above information is liable to change. Current position should be ascertained from the Bank.

STATE BANK OF INDIA (CANADA) State Bank of India (Canada) - a wholly owned subsidiary of State Bank of India has been operating in Canada at seven locations Toronto, Vancouver, Mississauga, Surrey, Scarborough, Abbotsford and Brampton extending various facilities to the Indians settled in Canada such as remittance of funds through a network of over 11500 offices of State Bank of India, the largest commercial bank in India and through the branches of its Associate Banks. SBI(C) has also been instrumental in fostering trade ties between India and Canada by extending financial, advisory and logistic support to Canadian and Indian corporates. FINANCIAL PERFORMANCE AS ON 31.03.2010 ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities 121.414 603.259 0 16.193 545.15 2708.64 0 72.71 USD MIO RS. IN CRORES

Total DEPLOYMENT Investments & Placements Advances All other Assets Total Assets CONTACT DETAILS: Address

740.866

3326.50

164.921 549.693 26.252 740.866

740.50 2468.13 117.87 3326.50

200 Bay Street, Suite#1600 Royal Bank Plaza, North Tower Toronto, Ontario- M5J 2J2 Tel: (01905) ? (416) 865 0414 Fax: (416) 865 1735/0324 Working Hours: (Mon-Fri) 9:30am ? 4:00pm Weekly Holidays: Saturday & Sunday SWIT code: SBINCATX Cable: STAT BANK Email: sbican@sbicanada.com Website: www.sbicanada.com Contact Person Mr. Sunil Kumar Tandon - President & CEO For more details on our subsidiary, visit www.sbicanada.com Note : The above information is liable to change. Current position should be ascertained from the Bank.

INMB BANK LTD, LAGOS A subsidiary of SBI, INMB Bank Ltd, (formerly Indo-Nigerian Merchant Bank Ltd) was incorporated on 26/11/1981 under the Banking Act, 1969. The principle activity of the Bank is providing Banking Services, mainly to corporate clients. Such services include the granting of loans and advances, equipment leasing, corporate finance activities, financial advisory services. In August 2002, the Bank was licensed by Central Bank of Nigeria to begin retail banking. The Bank is operating five branches in Nigeria namely Lagos, Abuja, Kano, PortHarcourt and Ikeja (recently opened). The Bank has carved a niche for itself in the banking industry as a bastion of professionalism, integrity and transparency. It is among the few ?A? Rated financial institutions in the country. FINANCIAL PERFORMANCE AS ON 31.03.2004 ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities Total DEPLOYMENT Investments & Placements 2.930 12.81 10.350 14.720 0.020 6.480 31.570 45.25 64.35 0.09 28.33 138.02 USD MIO RS. IN CRORES

Advances All other Assets Total Assets NET PROFIT/(LOSS) CONTACT DETAILS: Address INMB Bank Ltd, 42, Adeola Hopewell Street, Victoria Island, Private Mail Bag No. 12656 Lagos, Nigeria Tel.:2621323/2610052/0053/3195/3993 FAX: 2619955,2622794 Cable:STAT BANK SWIFT:INMBNGLA Contact Person

12.730 15.910 31.570 1.180

55.65 69.55 138.01 5.15

S S Ranjan - Managing Director & Chief Executive For more details on our subsidiary, visit www.inmb.net Note : The above information is liable to change. Current position should be ascertained from the Bank. BANK SBI Indonesia (SBII)

Bank SBI Indonesia is a subsidiary of SBI established in Indonesia, under SBI management since June 2007. The salient features of our Bank are as under: A) Our Bank is a full fledged forex licensed bank, undertaking full

range of banking activities. We have 14 offices spread over the islands of Java (Jakarta, Surabaya and Bandung) and Sumatra (Medan), the main business centers in Indonesia. SBII has developed excellent relationships with local important and leading groups in Industry and trade. B) We are an important source for handling remittances by expats/ Indonesians importers to all banks in India. We enjoy unique advantage by our competitive and attractive services, particularly for remittances to India in INR USD. C) We provide excellent trade related facilities for bilateral trade between India and Indonesia. At present, Indonesian exporters face problems in negotiation/ discount of export bills under LCs of Indian banks. Similarly, importers here have difficulties in establishing LCs for imports from India. We provide all these facilities and other services to facilitate bilateral trade and our efficient services, including advising of LCs to the Indian banks directly. Our competitive rates help trade services on both sides for mutual benefit with our partner banks. D) SBI Indonesia also provides support to Indian companies entering Indonesia by tying up suitable arrangements with their Indian bankers. For TLs/WC extended by Indian banks, we can provide Security Trustee facilities etc. for creation of their security charge over the borrowers assets in Indonesia. We also provide support to Indian banks by way of information/opinion/legal due diligence etc. which may be required at this end. We can also provide funding support to your customers in Indonesia by relying on some comfort from you. Hence, your bank can extend a complete package to your customers for their projects being set up in Indonesia. E) The audited financial parameters of SBII are placed in Annex I. As may be observed, SBII has sound financials and has shown excellent performance and growth after the management takeover by SBI. Although SBII is currently not rated by any Ratings agency, we may point out that SBI has committed to the Central Bank of Indonesia to honour all liabilities of SBI Indonesia in any extraordinary

circumstances. The contact details of our key officials at our Head Office are placed below:Name Designation Phone Mobile ISD:0062 21 ISD:0062 39838747 ex 307 39838747 ex 208 39838747 ex 215 39838747 ex 270 e-mail

Mr. Rajiv Saran President Dir. Mr. S. Sathyamurthy Mr. D Hari Krishna Mr. Luky Permadhi Director (Ops) Manager Manager, IBG

81585108010 rajiv.saran@sbiindo.com, rajivsaran20@yahoo.com 81585108009 dirops@sbiindo.com, sathyas100@gmail.com 81586417137 d.harik@sbi.co.in 8129919631 int_banking@sbiindo.com

Annexure I SBI Indonesia records rapid growth for the year ended 31st March, 2010

Bank SBI Indonesia achieved substantial growth during the period 2007-10 after takeover of management by SBI in June, 2007, although this was a very difficult period for the economy, particularly for the financial sector and banks. In Indonesia, 3 banks failed and a mid-sized bank had to be bailed out by the Government in 2008-09. The critical financial parameters in this period are given below: Performance Indicators (IDR in billions ) Increase As at 31st Mar 2007 2008 2009 2010 (2007-10) 1 Total Deposits 323.1 366.8 579.3 1128.7 249.33%

Total Advances Total Assets Investments Market Borrowings Net Profit Net Intt Income Non Intt Income Non Intt Expense ROAA (%) ROAE (%) Net NPL to Net 12 Advances 13 Total Equity 14 CAR (%) Notes:

2 3 4 5 6 7 8 9 0 11

159.6 362.3 141.8 9.2 (-) 1.1 17.4 1.8 19.30 (-) 0.7 (-) 4.5 2.9 22.9 17.80

246.5 532.9 222.2 2.9 4.3 23.1 2.2 17.9 0.9 3.2 2.6 157.2 58.0

370.6 756.0 309.8 1.5 5.9 29.9 6.5 22.7 1.0 3.8 2.6 163.1 38.1

561.1 1310.2 585.7 1.3 4.0 33.5 4.8 31.4 0.4 2.4 2.07 167.1 28.05

251.57% 261.63% 313.05% -85.87% 463.64% 92.53% 166.67% 62.69% 157.14% 153.33% -28.62% 629.69% 57.58%

(i) SBI took over management control in June 07. Performance of Bank in the pretakeover period Dec 06-June 07 was poor due to declining levels of deposits, advances & profitability. Excellent growth could be achieved in less than 3 years after management takeover by SBI in June 2007.

(ii)At the time of takeover by SBI, it was a loss making bank. The Bank had incurred a loss of IDR 1,797 million upto June 07, wiping out 21.26% of the equity on an annualised basis. After takeover, the new management not only wiped out all the losses but also closed the year with profits and good business growth, restoring the healthy functioning of the Bank.

(iii) SBI Indonesia received forex licence and now undertakes full range of banking facilities. SBI is the only Indian Bank in Indonesia which is actively supporting Indian Banks and corporates.

(iv)

After takeover, Bank has doubled the branch network, introduced latest

technological products including ATM/Debit cards, mobile banking, ATMs at all branches, system upgradation, change of name, shifting Head Office to Central Business District etc. All this was achieved from internal resources of the Bank while maintaining good profitability.

NON BANKING SUBSIDIARIES [Print Page] The Bank has the following Non-Banking Subsidiaries in India: 1.SBI Capital Markets Ltd 2.SBI Funds Management Pvt Ltd 3.SBI Factors & Commercial Services Pvt Ltd 4.SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) 5.SBI DFHI Ltd 6.SBI General Insurance Company Limited SBI Capital Markets Ltd (SBICAP) SBICAP undertakes merchant banking activities, advisory services, project appraisal, credit syndication and securities broking. SBICAPs current focus is on infrastructure project advisory and syndication mandates, particularly in sectors, such as, urban infrastructure and power, which are reckoned as the growth drivers. The other focus areas are public issues of equity, book-building issues, debt placements, broking, and sales and distribution. During the year, SBICAPs forged ahead in issue management, project advisory and structured finance, sales & distribution. It focused on infrastructure project advisory and syndication mandates, particularly in the energy sector, which is reckoned as the critical growth driver in the growth of the economy. On the international front SBICAPs bagged an infrastructure (water) advisory assignment from the Ministry of National Economy, Oman and was an integral part of the team effort for SBIs first acquisition of a bank overseas. It was also

associated with SBI for providing advisory in respect of participation of Societe Generale Asset Management, France in SBI Mutual Funds. It handled seven public issues out of the thirty four issues, which hit the primary market during the period. The Company recorded an improved financial performance during the year with gross income amounting to Rs.175.06 crore as against Rs.142.75 crore in the previous year, a y-o-y growth of approx. 23%. PAT of Rs.88.12 crore as against Rs. 63.23 crore in the last year shows a y-o-y growth of approx.40%. For more information visit http://www.sbicaps.com

SBI Funds Management Pvt Ltd (SBI FUNDS) SBI FUNDS is the Asset Management Company (AMC) set up for managing the affairs of SBI Mutual Fund. During 2003-04, SBI FUNDS reported a total inflow of Rs.12,450 crore in the openended funds. Total redemption amounted to Rs.10,523 crore, leaving a net inflow of Rs.1,927 crore for the year as against a net inflow of Rs.686 crore in the previous year. The total net assets of domestic funds under management stood at Rs.5,340 crore as on the 31st March 2004 as against Rs.3,312 crores as on the 31st March 2003. SBI FUNDS recorded a profit after tax of Rs.10.09 crore in 2003-2004, as against Rs.6.21 crore in the preceding year and paid a dividend of 10%. The Bank holds 100% equity of the Company. For more information visit http://www.sbimf.com

SBI DFHI Ltd (SBI DFHI)

SBI DFHI LTD is a Primary Dealer an Institution created by RBI to support the book building process in Primary Auctions of Government securities and provides necessary depth and liquidity to the Secondary Market in Government Securities. SBI DFHI Ltd was created out of the merger in 2004 of two leading players in the domestic Money and Debt Markets, the RBI promoted Discount & Finance House of India (DFHI) and SBI Gilts Ltd. It is a market leader in the Primary Dealer segment of the domestic debt market, with a Net Worth of Rs. 852.69 crores (as on 31st March 2011) and a presence in all major financial centers of the country. It is a major participant in the Government Securities market and posted an impressive turnover of Rs. 135351 cr. in G. Secs and Rs. 85628 cr. in T-Bills during FY 2010-11. The company is active in retailing of Government securities, including small lots. The company also trades in various types of other securities like Corporate Bonds, PSU Bonds, Fertilizer Bonds , Certificate of Deposits etc. The company has posted a post tax profit of Rs. 56.94 crores for the year 2010-11 and paid a dividend of 12.5%.The company bought back 25% of its paid up equity capital during the year 2010-11. The State Bank Group holds 72.17% of the companys share capital as on 31st March 2011. For more information, please visit www.sbidfhi.com.

SBI Factors and Commercial Services Pvt Ltd (SBI FACTORS) SBI Factors, a subsidiary of State bank of India (SBI) is one of the leading factoring companies in India with an asset base of Rs. 700.10 crores as on 30.09.2005. It was established in February 1991 with the primary objective to provide domestic factoring services to Small and Medium Enterprises (SMEs). Factoring is a Collection and finance service designed to improve the cash flow position of SMEs by turning their credit invoices into ready cash. The major strength of the company is that it has put in place a technology driven platform for offering integrated receivables management. SBI and its Associates Banks hold 70% stake in SBI Factors. SBIF offers Domestic Factoring With Recourse and Without Recourse. Purchase

Bill Factoring, Factoring of Usance Bills Under LC, Channel Financing of Dealers / Distributors and Export Factoring Facilities. All its products have been well received by its clients. SBIF has ten branches all over the country and it has plans to open three more branches during the year. It has achieved a turnover of Rs. 1489.54 Crores with Prepayment Outstanding of Rs. 459.35 crores for the year ended 31.03.2005. The profit before tax was Rs. 9.64 crores and PAT Rs. 6.12 Crores for the year 2004-05. It has recorded a NIL NPA position as at 31.03.2005. It has declared a dividend of 8% during the year 2005. It has a market share of 40.30% as on 30.09.2005. For more information visit http://www.sbifactors.com

SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) 1. Launch of SBI Delhi, SBI Hyderabad and SBI Bangalore city affinity cards. 2. Launch of Flexipay, an instalment loan programme. 3. Market leadership in VISA petrol spends in India. 4. Launch of e-bill payment of SBI Credit Card for SBI account holders. 5. Launch of Elite card which is offered by invitation only. 6. Ten per cent maiden dividend declared. For more information visit http://www.sbicard.com

SBI General Insurance Company Limited SBI General Insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG the remaining 26%. SBI General commenced its business operation in India late March 2010 in a limited way and is working towards a nationwide launch with a larger product portfolio.

SBI General will be a technology driven company with state-of-the-art IT systems. It will be a multi-product, multi-segment and multi-channel company. SBI General is in the process of setting up a unique multi-distribution model encompassing Bancassurance, Agency, Broking & Retail Direct (On-line & Tele Sales) channels. Bancassurance will be the major channel during the initial years. SBI Generals Vision is to emerge as the most trusted protection provider with fair and transparent business practices and lead the nations effort in increasing general insurance penetration as well as partnering the nation in reducing risks systematically. SBI General in course of time will introduce innovative and well-diversified portfolio of products at competitive prices & convenient to buy. For more information visit http://www.sbigeneral.in JOINT VENTURES [Print Page]

The Bank has the following Joint Ventures in India: 1. SBI Life Insurance Company Ltd (SBI LIFE) 2. SBI General Insurance Company Limited 3. SBI-SG Global Securities Private Limited

1. SBI Life Insurance Company Ltd (SBI LIFE) SBI Life Insurance, Indias largest private life insurance, is a joint venture between State Bank of India and BNP Paribas Assurance SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crore and a paid up capital of Rs 1,000 crores.

BNP Paribas Assurance is the insurance arm of BNP Paribas - Euro Zones leading Bank. BNP Paribas, part of the worlds top 10 groups of banks by market value and part of Europe top 3 banking companies, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly through the bancassurance and partnership model.

SBI Life Insurances mission is to emerge as the leading company offering a comprehensive range of Life Insurance and pension products at competitive prices, ensuring high standards of customer service and world class operating efficiency.

SBI Life has a unique multi-distribution model encompassing Bancassurance, Agency and Corporate Solutions. SBI Life extensively leverages the SBI Group relationship as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. Agency Channel, comprising of the most productive force of over 68,000 Insurance Advisors, offers door to door insurance solutions to customers.

SBI Lifes Key Accomplishments:

Bagged the coveted personal finance award-Outlook Money NDTV Profit best Life Insurer 2008. Globally topped at the prestigious MDRT 09, in terms of number of Million

Dollar Round Table (MDRT) members. First life insurer to receive CRISILs highest financial rating AAA/Stable. ICRA too has assigned iAAA rating indicating highest claims paying ability to SBI Life Insurance. Retains ISO 9001:2000 certificate for superior claim settlement process

For more information, please visit www.sbilife.co.in

2. SBI General Insurance Company Limited SBI General Insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG the remaining 26%.

SBI General commenced its business operation in India late March 2010 in a limited way and is working towards a nationwide launch with a larger product portfolio.

SBI General will be a technology driven company with state-of-the-art IT systems. It will be a multi-product, multi-segment and multi-channel company. SBI General is in the process of setting up a unique multi-distribution model encompassing Bancassurance, Agency, Broking & Retail Direct (On-line & Tele Sales) channels. Bancassurance will be the major channel during the initial years.

SBI Generals Vision is to emerge as the most trusted protection provider with fair and transparent business practices and lead the nations effort in increasing

general insurance penetration as well as partnering the nation in reducing risks systematically.

SBI General in course of time will introduce innovative and well-diversified portfolio of products at competitive prices & convenient to buy.

For more information visit http://www.sbigeneral.in

3. SBI-SG Global Securities Services Private Limited SBI-SG Global Securities Services Private Limited is a joint venture between State Bank of India (SBI) and Societe Generale Securities Services (SGSS). This joint venture has been set up to offer high quality Custody Services, Fund Accounting & Fund Administration, Risk Analysis & Performance Measurement and Registrar & Transfer Agency Services to domestic investors like Financial Institutions, Mutual Funds, Insurance Companies, Pension Funds, Portfolio Management Services, Private Banks, Corporates, Brokers and overseas investors like Global Custodians or Foreign Institutional Investors in the Indian Securities Market.

The joint venture is leveraging SBIs strength in the Indian financial sector and SGSS is contributing its recognized experience and best practices as one of the leading global custodians providing securities services across 80 countries worldwide.

It is a state-of-the-art service delivery with total focus on rendering world class service to all the major players in the Securities Industry in India. For more information, please visit www.sbisgcsl.co.in

CODE OF CONDUCT FOR THE BANKS BOARD OF DIRECTORS AND CORE MANAGEMENT APPROVED BY THE CENTRAL BOARD [Print Page] I.Need and objective of the Code Clause 49 of the Listing Agreement entered into with the Stock Exchanges, requires, as part of Corporate Governance the listed entities to lay down a Code of Conduct for Directors on the Board of an entity and its Senior Management. Senior Management has been defined to include personnel who are members of its Core Management and functional heads excluding the Board of Directors. Accordingly the State Bank of India has laid down this Code for its Directors on the Central Board and its Core Management (Core Management means top executives of the Bank at the level of Deputy Managing Directors). II.Banks belief system This Code of Conduct attempts to set forth the guiding principles on which the Bank shall operate and conduct its daily business with its multitudinous stakeholders, government and regulatory agencies, media, and anyone else with whom it is connected. It recognises that the Bank is a trustee and custodian of public money and in order to fulfil its fiduciary obligations and responsibilities, it has to maintain and continue to enjoy the trust and confidence of public at large. The Bank acknowledges the need to uphold the integrity of every transaction it enters into and believes that honesty and integrity in its internal conduct would be judged by its external behaviour.The Bank shall be committed in all its actions to the interest of the countries in which it operates. The Bank is conscious of the reputation it carries amongst its customers and public at large and shall endeavour to do all it can to sustain and improve upon the same in its discharge of obligations. The Bank shall

continue to initiate policies, which are customer- centric and which promote financial prudence. III. Philosophy Of The Code The Code envisages and expects a)adherence to the highest standards of honest and ethical conduct, including proper and ethical procedures in dealing with actual or apparent conflicts of interest between personal and professional relationships. b)full, fair and accurate disclosures in the periodic reports required to be filed by the Bank with government and regulatory agencies. c)compliance with applicable laws, rules and regulations. d)to address misuse or misapplication of the Banks assets and resources. e)the highest level of confidentiality and fair dealing within and outside the Bank. i. General Standards of conduct The Bank expects all Directors and members of the Core Management to exercise good judgement, to ensure the interests, safety and welfare of customers, employees, and other stakeholders and to maintain a cooperative, efficient, positive, harmonious and productive work environment and business organization. The Directors and members of the Core Management while discharging duties of their office must act honestly and with due diligence. They are expected to act with that amount of utmost care and prudence, which an ordinary person is expected to take in his/her own business. These standards need to be applied while working in the premises of the Bank, at offsite locations where the business is being conducted whether in India or abroad, at Bank-sponsored business and social events, or at any other place where they act as representatives of the Bank. ii . A Conflict of Interest occurs when personal interest of any member of the Board of Directors and of the Core Management interferes or appears to interfere in any way with the interests of the Bank. Every member of the Board of Directors and Core Management has a responsibility to the Bank, its stakeholders and to each other. Although this duty does not prevent

them from engaging in personal transactions and investments, it does demand that they avoid situations where a conflict of interest might occur or appear to occur.They are expected to perform their duties in a way that they do not conflict with the Banks interest such asa.Employment / Outside Employment - The members of the Core Management are expected to devote their total attention to the business interests of the Bank.They are prohibited from engaging in any activity that interferes with their performance or responsibilities to the Bank or otherwise is in conflict with or prejudicial to the Bank. b.Business Interests - If any member of the Board of Directors and Core Management considers investing in securities issued by the Banks customer, supplier or competitor, they should ensure that these investments do not compromise their responsibilities to the Bank. Many factors including the size and nature of the investment; their ability to influence the Banks decisions, their access to confidential information of the Bank, or of the other entity, and the nature of the relationship between the Bank and the customer, supplier or competitor should be considered in determining whether a conflict exists.Additionally, they should disclose to the Bank any interest that they have which may conflict with the business of the Bank. c.Related Parties - As a general rule, the Directors and members of the Core Management should avoid conducting Banks business with a relative or any other person or any firm, company, association in which the relative or other person is associated in any significant role.Relatives shall include:

Spouse Father Mother (including step-mother) Son (including step-son) Sons wife Daughter (including step-daughter) Fathers father Fathers mother

Mothers mother Mothers father Sons son Sons sons wife Sons daughter Sons Daughters husband Daughters husband Daughters son Daughters sons wife Daughters daughter Daughters daughters husband Brother (including step-brother) Brothers wife Sister (including step-sister) Sisters husband

i.If such a related party transaction is unavoidable, they must fully disclose the nature of the related party transaction to the appropriate authority. Any dealings with a related party must be conducted in such a way that no preferential treatment is given to that party. ii.In the case of any other transaction or situation giving rise to conflicts of interests, the appropriate authority should after due deliberations decide on its impact. B.Disclosure Standards The Bank shall make full, fair and accurate disclosures in the periodic reports required to be filed with Government and Regulatory agencies.The members of Core Management of the Bank shall initiate all actions deemed necessary for proper dissemination of relevant information to the Board of Directors, Auditors and other Statutory Agencies, as may be required by applicable laws, rules and regulations. C.Applicable Laws The Directors of the Bank and Core Management must comply with applicable laws, regulations, rules and regulatory orders.They should report

any inadvertent non-compliance, if detected subsequently, to the concerned authorities. D.Use of Banks Assets and Resources Each member of the Board of Directors and the Core Management has a duty to the Bank to advance its legitimate interests while dealing with the Banks assets and resources. Members of the Board of Directors and Core Management are prohibited from: i. using corporate property, information or position for personal gain; ii. soliciting, demanding, accepting or agreeing to accept anything of value from any person while dealing with the Banks assets and resources; iii. acting on behalf of the Bank in any transaction in which they or any of their relative(s) have a significant direct or indirect interest. E. Confidentiality and Fair Dealings Banks Confidential Information i.The Bank's confidential information is a valuable asset. It includes all trade related information, trade secrets, confidential and privileged information, customer information, employee related information, strategies, administration, research in connection with the Bank and commercial, legal, scientific, technical data that are either provided to or made available to each member of the Board of Directors and the Core Management by the Bank either in paper form or electronic media to facilitate their work or that they are able to know or obtain access by virtue of their position with the Bank. All confidential information must be used for Banks business purposes only. ii.This responsibility includes the safeguarding, securing and proper disposal of confidential information in accordance with the Bank's policy on maintaining and managing records. This obligation extends to confidential information of third parties, which the Bank has rightfully received under non-disclosure agreements. iii. To further the Banks business, confidential information may have to be disclosed to potential business partners.Such disclosure should be made after considering its potential benefits and risks.Care should be taken to

divulge the most sensitive information, only after the said potential business partner has signed a confidentiality agreement with the Bank. iv. Any publication or publicly made statement that might be perceived or construed as attributable to the Bank, made outside the scope of any appropriate authority in the Bank, should include a disclaimer that the publication or statement represents the views of the specific author and not the bank. Other Confidential Information The Bank has many kinds of business relationships with many companies and individuals. Sometimes, they will volunteer confidential information about their products or business plans to induce the Bank to enter into a business relationship. At other times, the Bank may request that a third party provide confidential information to permit the Bank to evaluate a potential business relationship with that party. Therefore, special care must be taken by the Board of Directors and members of the Core Management to handle the confidential information of others responsibly. Such confidential information should be handled in accordance with the agreements with such third parties. i. The Bank requires that every Director and the member of Core Management, General Managers should be fully compliant with the laws, statutes, rules and regulations that have the objective of preventing unlawful gains of any nature whatsoever. ii. Directors and the members of Core Management shall not accept any offer, payment promise to pay, or authorization to pay any money, gift, or anything of value from customers, suppliers, shareholders/ stakeholders, etc., that is perceived as intended, directly or indirectly, to influence any business decision, any act or failure to act, any commission of fraud, or opportunity for the commission of any fraud. IV.Good corporate governance practices Each member of the Board of Directors and Core Management of the Bank should adhere to the following so as to ensure compliance with good Corporate Governance practices.

Dos i. Attend Board meetings regularly and participate in the deliberations and discussions effectively. ii.Study the Board papers thoroughly and enquire about follow up reports on definite time schedule. iii.Involve actively in the matter of formulation of general policies iv.Be familiar with the broad objectives of the Bank and the policies laid down by the Government and the various laws and legislations. v. Ensure confidentiality of the Banks agenda papers, notes and Minutes. Donts i. Do not interfere in the day to day functioning of the bank. (This stipulation does not apply to the Chairman, the Managing Directors and the Core Management.) ii. Do not reveal any information relating to any constituent of the Bank to anyone. iii. Do not display the logo / distinctive design of the Bank on their personal visiting cards / letter heads. (This does not prevent the Chairman, Managing Directors and Core Management from using DO Letterheads or visiting cards with SBIs logo thereon). iv. Do not sponsor any proposal relating to loans, investments, buildings or sites for Banks premises, enlistment or empanelment of contractors, architects, auditors, doctors, lawyers and other professionals etc. v. Do not do anything, which will interfere with and / or be subversive of maintenance of discipline, good conduct and integrity of the staff. V.Waivers Any waiver of any provision of this Code of Conduct for a member of the Banks Board of Directors or a member of the Core Management must be approved in writing by the Board of Directors of the Bank. The matters covered in this Code of Conduct are of the utmost importance to the Bank, its stakeholders and its business partners, and are essential to the Bank's ability to conduct its business in accordance with its value system.

I have received and read the Bank's Code of Conduct and agree to comply with the same. Name: Signature: Place & Date: