It’s an exclusive club entry for the State Bank of India (SBI), occupied by five other companies. 

The country’s largest lender has hit the $100 billion market-cap mark on Thursday, joining Reliance Industries ($228.7 billion), HDFC Bank ($183.6 billion), Bharti Airtel ($140.3 billion), Tata Consultancy Services (124.8 billion) and ICICI Bank ($108.5 billion).

SBI chairman CS Setty said the target now is to break into the league of Top-10 global banks, ideally by even before 2030.

The state-run lender discussed entering the $100 billion market cap in a conference in Kolkata in 2018, after it posted a loss for the first time in its history. The theme of the conference was how do you reach $100 billion market cap, Setty said while speaking at the two-day SBI Economic Conclave. 

The bank’s share price rose 1.47% on Thursday to touch an all-time high of Rs 971.15 apiece on the BSE, taking its market cap to over $100 billion (Rs 8.96 lakh crore). The scrip has gained 23% over the last six months and 66% over a two-year period.

Private lenders HDFC Bank and ICICI Bank are already in the elite $100-billion-plus market cap league. HDFC Bank was the first to enter in July 2023, followed by ICICI Bank in June 2024.

SBI is the only lender in India to be in the top 50 global banks list in terms of assets, with a ranking of 43. It became the first Indian bank to have its total business cross Rs 100 lakh crore during the September quarter, with gross advances at Rs 44.20 lakh crore and deposits at Rs 55.9 lakh crore.