SBI to recruit 10,500 this fiscal

State Bank of India has said it will recruit about 10,500 employees during the current financial year to manage the growing business of the bank.

"This year, the bank would make 9,500 clerical level appointments and nearly 1,000 probationary officers to be inducted," SBI chairman Pratip Chaudhuri said in Bhopal on Monday evening.

The process would be completed by Dussehra, he added.

According to the annual report of SBI, overall staff strength declined by 7,452 employees during the last fiscal.

As on March 31, 2012, the bank had a total permanent staff strength of 2,15,481, which included 80,404 officers, 95,715 clerical staff and the remaining 39,362 were sub-staff.

In 2011-12, SBI's net profit rose by about 42 per cent to Rs 11,707 crore (Rs 117.07 billion) --

one of highest net profits earned by a corporate in the country.

SBI enjoys leadership positions in the retail car loan financing and home loan businesses and its retail advances grew 10.9 per cent to Rs 1,82,427 crore (Rs 1,824.27 billion) in the year ended March 31, 2012.

It commanded 26 per cent market share in home loan and 17.51 per cent market share in car loan financing last year.

Referring to the ongoing merger process of associate banks with the SBI, Chaudhuri said it will be done in a gradual manner.

Presently, there are five associate banks of SBI.

These are State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner and State Bank of Travancore.