SBI’s Strategic Moves: State Bank of India (SBI), the biggest public sector bank in India, has invested big bucks in big-ticket financial transactions involving two cricketers with household names and Bollywood stars. The strategic partnerships are intended to increase the reach as well as the visibility of the bank in the market.
DNA India
MS Dhoni’s tie-up with SBI
SBI hired MS Dhoni, the ex-Indian cricket captain, as its brand ambassador in October 2023. Dhoni will be a central figure in bank promotional and marketing efforts through this agreement. SBI pays Dhoni ₹6 crore per year for this endorsement, as per reports. SBI Chairman Dinesh Khara embraced the partnership, referring to Dhoni as a symbol of trust, integrity, and commitment reflected by the bank.
Abhishek Bachchan’s SBI Lease Agreement
Bollywood actor Abhishek Bachchan has leased a 3,150 sq. ft. commercial building to SBI and the bank has taken occupation of the property bordering his residence, Jalsa. According to reports emerging from Zapkey.com, the actor’s 15-year lease agreement that has a minimum rent of Rs.18.9 lakh has rent rise scheduled at intervals. The rent will increase to Rs.23.6 lakh in five years and ₹29.5 lakh in ten years.
SBI’s Strategic Marketing Activities
These endorsements show SBI’s marketing strategy by association with celebrity personalities in various domains. Brand association with MS Dhoni leverages his extensive popularity and trust factor to leverage his association to create a strong brand image of SBI. Acquisition of high-profile commercial properties in the same manner by leasing premises to Abhishek Bachchan illustrates the bank’s desire to have a commanding operating presence at strategic locations.
DNA India
Public and Media Responses
The economic status of these partnerships has also been confusing the minds of the public and media. Why money worth large amounts is being sent to endorsements and rents, which could be invested in customer service enhancement or other operational development, are some of the questions asked by some. These views indicate towards the always-present issue of the usefulness and priority of corporate spending among public sector organizations.
Market Position and Financial Prospects of SBI
As on February 24, 2025, the market capitalization of SBI stands at Rs.6.39 lakh crore. The bank remains committed to strategic efforts designed to strengthen market position while offering value to stakeholders. In committing to A-list endorsements and optimal locations, SBI reaffirms a commitment to brand building on while pushing ahead with operational work.