State Bank of India ("SBI"), is the largest shareholder of the Bank SBI Indonesia, and it is the Indian's largest financial Banking corporate, headquartered in Mumbai, India. The origins of State Bank of India is dated back to 1806, when the Bank of Calcutta (later called Bank of Bengal) was established. In 1921, the Bank of Bengal and two other Banks (Bank of Madras and Bank of Bombay) were merged to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquires control of the Imperial Bank of India and then SBI were formed under the laws of Parliament to replace the Imperial Bank of India. SBI has extensive administrative structure, supervising large network of branches in India and abroad. The Corporate Centre which is located in Mumbai, India, SBI has 14 Local Head Offices, 57 Zonal Offices, and 191 foreign offices in 36 countries around the world. Bank SBI Indonesia is initially recognized after the State Bank of India (SBI), one of the largest Bank in India, acquired 76% of shares from PT. Bank IndoMonex on 14 December 2006, hereinafter and took over the management control in June 2007 and operated in Indonesia as a subsidiary Bank of SBI. In June 2009, Bank SBI Indonesia obtained the status as a foreign exchange Bank, which has the right to conduct business in foreign exchange transactions. Then, in 2009,the Bank name changed to Bank SBI Indonesia to reflect the new ownership of the SBI. On August 2013, SBI acquired another 23% of shares from PT. Ravindo Jaya, thus adding the ownership of its shares to 99%. In order for the Bank to be the “BUKU 2” Category, shareholders of Bank SBI Indonesia have added the capital in 3 Tranches, where the Tranch 3 were deposited on November 2015. At present, Bank SBI Indonesia has 6 (six) branches and 6 (six) sub-branches spread over 4 (four) major cities in Indonesia namely, Jakarta, Bandung, Surabaya and Medan. Bank SBI Indonesia has (1) cash point, located one at Embassy of India in Jakarta.
