State Bank of India (SBI) is in the process of hiring around 12,000 employees for information technology (IT) and other roles, Chairman Dinesh Khara said. 

The country’s largest lender had a total staff count of 2,32,296 in FY24, down from 2,35,858 a year ago.

“Around 11,000 to 12,000 employees are in the hiring process. These are general employees, but we actually are having a system where at our associate level and officers' level around 85% of them are engineers. We give them some exposure to understand banking and thereafter we start channelising them into various associate roles and some of them will be channelised in IT,” Khara said.

The bank is specifically looking at hiring new employees for technology skills, he added.

Meanwhile, SBI beat market estimates by a wide margin to post a 24% rise in net profit to Rs 20,698 crore for the quarter ended 31 March 2024 amid strong loan demand, higher interest income, cost control and lower provisions.

The bank declared a dividend of Rs 13.70 per share for FY24.