Very strong market position in the Indian banking system Expected extraordinary support from the Indian government Sound funding and liquidity profile Challenging operating environment Modest capitalization The ratings on State Bank of India (SBI) reflect the India-based bank's market leadership and adequate financial profile, in particular its sound funding and liquidity profile. The challenging operating environment in India and SBI's modest capitalization in view of its rapid growth temper these strengths. We expect SBI to maintain its leadership position in terms of assets, loans, and deposits, at least in the next two to three years, due to its wide product suite, large client base, and extensive branch network. We also expect that SBI will get substantial extraordinary government support in
