The seven business units have been carved out of the two existing business divisions of the bank -- the corporate accounts group and the national banking group -- set up in the mid-1990s.
McKinsey, which was instrumental in the previous organisational recast eight years ago, has been with the bank for over two years now supervising the restructuring plan as well as its implementation.
According to sources, the corporate accounts group, which was created to deal with the bank's top 200 accounts, has been split into three business units.
While one unit will continue to deal with the top accounts, another division has been created to finance projects and a third one for mid-cap (loans of Rs 25 crore and above) companies.
The top accounts division and the mid-cap division are being headed by chief general managers while the project finance division is headed by a general manager. All three group heads report to the managing director in charge of the CAG.
SBI chairman A K Purwar confirmed that the bank has created seven business units and that the new structure is already in place. He, however, refused to offer details on the new-look SBI.
Four business units have been spun off from the NBG. These deal with loans to agriculture, small and medium enterprises (loans up to Rs 25 crore), retail loans and government businesses. While a CGM heads the SME unit, the other three are managed by general managers. All group heads report to the managing director in charge of the NBG.
Besides relatively smaller manufacturing units, the SME division also
© 2026