India's largest govt bank joins world’s most profitable companies list, its net profit is Rs...

India's largest government bank, SBI, has joined the ranks of the world’s most profitable companies list, CNBCTV 18 reported. The State Bank of India (SBI) reported a net profit of USD 9.2 billion (Rs 77,561 crore) in FY25. The list also includes big companies like Alphabet, Apple, NVIDIA, and JPMorgan Chase, according to data compiled by Bloomberg. SBI ranks 98th on the list, just behind Netflix and Cisco Systems. The bank also entered the global top 50 banks by assets following its landmark merger with five associate banks nearly a decade ago.

The list is led by Alphabet, the parent company of Google, with an impressive USD 111 billion in annual income, followed by Saudi Aramco at USD 105 billion. Tech giants such as Apple, Microsoft, NVIDIA, and Meta also feature in the top 10. 

While this is a first for SBI, it’s not the first time an Indian company has broken into the global top 100 profit-makers. In 2009, state-run Oil and Natural Gas Corporation (ONGC) ranked 71st globally in net profit and maintained its position among the top 100 in subsequent years. Mukesh Ambani's Reliance Industries Ltd, which is India’s most valuable company, also made the list in 2021, ranking 98th. The data also reveals that the US-based companies dominate the list with 43 entries. China follows with 19 companies, while Germany ranks third with five firms.

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SBI’s climb up the profit ladder comes on the back of a strong 31% compound annual growth in net profit over the last five years. Currently, SBI has a market cap of Rs 7.15 lakh crore, as of May 13. The share price of the bank closed at Rs 801.95 on Tuesday.