State Bank of India (SBI) is currently hiring almost 12,000 employees for various roles, including positions in information technology.
The bank recently revealed its earnings for the fourth quarter at a press conference. While at least 11,000 general roles exist, the bank reportedly follows a system wherein a significant 85 per cent of the positions at associate and officer level go to engineers. These engineers are trained on banking and then assigned associate roles, with some even going into the information technology (IT) department. With an aim to develop its IT department, the bank intends to hire more people with knowledge of technology. At least 2,000 will join as probationary officers.
In the financial year 2024, SBI had a total workforce strength of 2,32,296. This was less than the 2,35,858 people in its workforce in the previous financial year.
For the quarter ended 31 March 2024, the net profit for the bank was Rs 20,698. This was 24 per cent more than the figure for the same period last year, that is, Rs 16,695 crore.
Dinesh Khara, chairman, SBI, revealed that the net interest income (NII) during the quarter ended 31 March, 2024 went up to Rs 41,655 crore from Rs 40,393 crore in March 2023. Net interest margin, on the other hand, fell to 3.47 per cent.