State Bank of India (SBI) is in the process of hiring almost 12,000 employees for various roles, including positions in information technology. The bank recently announced its fourth-quarter earnings at a press conference. While there are at least 11,000 general roles available, the bank has a system where 85% of the positions at associate and officer level go to engineers. These engineers receive banking training and are then assigned associate roles, with some even going into the information technology (IT) department.
The bank aims to develop its IT department, so it will hire more people with technology knowledge. At least 2,000 will join as probationary officers.
In the financial year 2024, SBI had a total workforce of 2,32,296, which was less than the 2,35,858 people in its workforce in the previous financial year. For the quarter ended on 31 March 2024, the bank’s net profit was Rs 20,698, which was 24% higher than the figure for the same period last year, that is, Rs 16,695 crore.
Dinesh Khara, the chairman of SBI, revealed that the net interest income (NII) during the quarter ended on 31 March 2024 went up to Rs 41,655 crore from Rs 40,393 crore in March 2023. However, the net interest margin fell to 3.47%.
