State Bank of India (SBI) expanded its workforce to a five-year high in FY26 after adding nearly 9,000 employees during the financial year ended March 2026, reflecting the bank’s continued focus on strengthening talent capacity and operational scale.
The country’s largest lender reported a total employee strength of 2,45,131 in FY26, the highest level since FY21, when the bank employed 2,45,652 people.
The latest hiring push places SBI among a small group of Indian companies employing more than two lakh people. According to Bloomberg data, Tata Consultancy Services remains India’s largest private-sector employer with nearly 5.85 lakh employees, followed by Reliance Industries with over four lakh employees. Infosys and Wipro also continue to maintain workforce strength above two lakh employees.
Women employees now account for nearly 28.5 per cent of SBI’s total workforce, highlighting the bank’s expanding focus on workforce diversity and inclusion.
During the bank’s Q4 FY26 earnings discussion, C S Setty said the organisation continues investing in employee training, capability building and workplace culture to create a future-ready workforce suited to a rapidly-evolving financial environment.
SBI’s employee-related expenditure increased 2.1 per cent year-on-year to Rs 65,724 crore in FY26. Staff costs accounted for more than half of the bank’s total operating expenses during the year.
The workforce expansion coincided with strong financial performance for the lender. SBI reported a record annual net profit of Rs 80,032 crore in FY26, driven by growth in both interest and non-interest income streams. The bank’s total business also crossed Rs 109 lakh crore during the year.
Despite pressure on margins during the March quarter, analysts largely retained a positive outlook on the bank. According to Bloomberg data, a majority of analysts tracking SBI continue to maintain a “Buy” rating on the stock, reflecting confidence in the lender’s long-term growth trajectory and operational strength.
