SBI to hire up to 12,000 employees and add 250 branches in FY27: Chairman CS Setty

State Bank of India (SBI) plans to recruit 11,000 to 12,000 employees and add up to 250 branches during FY27, signalling continued investment in workforce expansion and customer reach despite an increasingly digital banking environment.

In an interview with news agency PTI, SBI Chairman CS Setty said the hiring programme will span both clerical and officer-level positions. The final number may vary depending on retirements and evolving business requirements, but the bank expects to close the financial year with around 12,000 appointments.

The hiring plans come as SBI continues to strengthen its position as India’s largest lender and one of the country’s biggest employers.

Recruitment plans reflect evolving workforce needs

According to PTI, Setty said SBI is targeting approximately 11,000 to 12,000 recruitments this year across multiple employee categories.

A significant portion of the recruitment drive will support the bank’s ongoing operational requirements while replacing retiring employees and addressing emerging business demands.

Key workforce figures:

• SBI plans to recruit 11,000-12,000 employees in FY27.
• Hiring will cover clerical and officer cadres.
• The final recruitment figure may vary depending on retirements and business needs.
• SBI employed more than 2.45 lakh people as of March 2026.

The recruitment target is notably lower than the previous financial year, when the bank undertook a larger hiring exercise.

IT hiring slows after last year’s specialist intake

SBI’s annual report shows the bank recruited 25,633 employees in FY26, including:

• 4,640 officers
• 19,340 associates
• 1,653 contractual employees

According to PTI, Setty attributed the unusually high recruitment volume last year to the hiring of 1,500 specialist IT officers.

The moderation in hiring this year reflects changing workforce priorities rather than a broader slowdown in recruitment activity. With specialised technology requirements addressed through last year's intake, the bank expects lower demand for IT-focused recruitment during the current financial year.

A measured hiring strategy allows SBI to balance workforce renewal with operational efficiency while responding to changing business priorities.

Branch expansion remains a strategic priority

Alongside workforce growth, SBI plans to continue expanding its physical network across India.

Despite already operating one of the country's largest banking networks, the lender sees opportunities in developing residential clusters and commercially active regions where its presence can be strengthened.

Setty told PTI there remains considerable "white space" across several geographies, creating scope for additional branches.

At the same time, the bank is reviewing parts of its existing network and rationalising selected locations.

Branch expansion highlights:

• SBI expects a net increase of 200-250 branches during FY27.
• New branches will focus on underserved residential and commercial areas.
• Some existing branches may be consolidated as part of network rationalisation.

The approach indicates SBI is pursuing growth while optimising its overall branch footprint.

SBI prepares for NSE stake dilution

Setty also outlined SBI's plans regarding the proposed ₹30,000-crore initial public offering of the National Stock Exchange (NSE).

According to PTI, SBI and its subsidiary SBI Capital Markets Ltd intend to dilute up to 1% of their combined holding in the exchange through the IPO.

The proposed sale includes:

• 0.65% stake from SBI
• 0.35% stake from SBI Capital Markets

Currently, SBI owns 3.23% of NSE, while SBI Capital Markets holds 4.33%.

The final extent of the stake sale could depend on participation by other shareholders in the offering process.

Focus remains on growth and scale

SBI’s plans for fresh recruitment and branch additions underscore its commitment to expanding capacity while maintaining its extensive national presence. As the bank balances workforce planning, network growth and strategic investments, its FY27 roadmap reflects a focus on scale, operational coverage and long-term business requirements.