State Bank of India's (SBI) rating reflects its sound domestic business franchise, which is underpinned by its dominant market position and importance to India's banking system. Additionally, the bank's business profile continues to benefit from majority ownership by the Reserve Bank of India (RBI). The bank's financial profile, however, is moderated by weak asset quality and profitability pressures, although moderating expenses and strong volume growth have helped boost reported profits. SBI's strategy and corporate vision to be the leading financial services group in India is soundly based, and the bank aims to leverage off its position as India's largest commercial bank, with assets totaling Indian rupee (Re) 3,482.3 billion (about US$71.4 billion) at March 31, 2002, and a market share
