SBI Workforce Rises to Five-Year High After Adding Nearly 9,000 Employees in FY26

State Bank of India reported a significant increase in workforce strength during FY26 after hiring nearly 9,000 employees, taking its total employee count to a five-year high.
According to the bank’s annual disclosures for the financial year ended March 2026, SBI’s total workforce stood at 2,45,131 employees, compared with lower levels recorded in recent years. The figure is the highest since FY21, when the bank employed 2,45,652 people.
The hiring expansion places SBI among a limited group of Indian companies with workforces exceeding two lakh employees. Tata Consultancy Services remains India’s largest private-sector employer with approximately 5.85 lakh employees, followed by Reliance Industries with more than four lakh employees. Infosys and Wipro also continue to employ more than two lakh people each.
Women employees accounted for nearly 28.5% of SBI’s total workforce in FY26, reflecting the bank’s continued emphasis on workforce diversity and inclusion initiatives.
During the bank’s fourth-quarter FY26 earnings interaction, SBI Chairman C S Setty said the organisation is continuing to invest in employee training, capability development and workplace culture to support long-term business transformation.
SBI’s employee-related expenditure rose 2.1% year-on-year to ₹65,724 crore in FY26. Staff-related expenses represented more than half of the bank’s overall operating expenditure during the year.
The workforce growth coincided with strong financial performance. SBI reported a record annual net profit of ₹80,032 crore for FY26, supported by growth in interest income and non-interest revenue streams. The bank’s total business crossed ₹109 lakh crore during the financial year.
Despite margin pressure during the March quarter, analysts largely maintained a positive outlook on the lender. According to Bloomberg data cited in reports, most analysts tracking SBI continue to maintain a “Buy” rating on the stock, citing confidence in the bank’s long-term growth prospects and operational scale.
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