SBI to recruit 18,000, including 3,000 probationary officers, in FY26: Report

SBI chairman CS Setty stated that the hiring drive is in line with the bank's tech-driven transformation.

In its biggest recruitment drive in around 10 years, country's largest lender State Bank of India (SBI)  plans to make 18,000 new hirings in FY26. In an effort to particularly fortify its technology wing, the bank will be hiring 1,600 system officers.

As per an Economic Times report, SBI chairman CS Setty stated that the hiring drive is in line with the bank's tech-driven transformation. He said, "Our total recruitment across categories is about 18,000 people, out of which around 13,500 to 14,000 will be clerical recruitment, 3,000 will be probationary officers and local-based officers."

Setty informed that although the bank doesn’t reveal numbers related to tech spending, it has never held back on investments in digital capabilities. "This also shows our commitment to ensure that our technology spends are not a constraint for pursuing our objective of a tech-driven path,” he added.

Earlier on Sunday, Setty informed that despite the challenge of declining rate cycle, return on assets (RoA) of over 1 per cent during the current financial year would be ensured. RoA is a profitability ratio that shows how much profit a company would generate from its assets.

While addressing analysts after announcing the SBI's quarterly numbers, he said, "We will ensure that the readjustment of interest rates on the deposits are aligned broadly with repo rate cuts so that margins are protected".

During the course of the year, he said that there would be further repo rate cuts that would put pressure on net interest margin. However, he believed there would be realignment of rates on the deposit side because without that effective monetary transmission will not happen. "We still will be able to maintain 1 per cent RoA guidance for the current financial year... our goal is to consistently achieve an RoE of over 15 per cent through the business cycles," he added.