State Bank of India announced a strategic partnership with FPSB India on Monday to integrate the Certified Financial Planner (CFP) certification into its employee learning framework, targeting its entire workforce of 2.36 lakh employees.
The memorandum of understanding was signed in Mumbai with senior officials including Sandeep Sharma, Country Head of Wealth Management at SBI, and Krishan Mishra, CEO of FPSB India, in attendance. The initiative focuses on enhancing financial planning services for NRI, HNI and UHNI customer segments across investment planning, retirement readiness, insurance advisory, and estate planning.
SBI, India’s largest commercial bank, commands significant market positions with 27.3 per cent share in home loans and 20.2 per cent in auto loans. The bank operates 22,937 branches and 63,791 ATMs nationwide, and serves customers through its digital platform YONO, which has 8.77 crore registered users.
The partnership aims to standardise financial planning delivery across SBI’s extensive network by embedding globally recognised certification standards into employee development. FPSB India, which currently supports over 3,215 CFP professionals in India, is part of a global network representing more than 230,648 CFP professionals worldwide.
The collaboration aligns with India’s broader financial literacy initiatives and positions SBI to deliver enhanced advisory services to its diverse customer base through professionally certified staff.
The shares of State Bank of India were trading at ₹790 down ₹6.15 or 0.77 per cent on the NSE today at 3.20 pm.