Bank SBI Indonesia commenced to be publicly acknowledged at the moment of State Bank of India (SBI), the biggest Bank in India, acquired 76% of shares of PT Bank Indomonex on December 14th 2006, which afterwards took over the management on July 2007 and began operating in Indonesia as the subsidiary of SBI. On June 2009, Bank SBI Indonesia attained the status as the Foreign Exchange Bank, which authorized the Bank to engage within the business of foreign exchange transaction. Furthermore in the same year the Bank changed its name to Bank SBI Indonesia with the intention to reflect the new ownership of SBI.
On August 2013, SBI later acquired the additional 23% shares from PT Ravindo Jaya, which supplemented its share ownership to 99% thereof. In order to be categorized as a BUKU 2 Bank, the shareholders of Bank SBI Indonesia had been adding the additional capital within 3 (three) periods, in which the third period has been stored on November 2015.
Bank SBI indonesia presently possesses 7 (seven) branch offices and 3 (three) sub-branch offices spread all over 5 (five) big major cities in Indonesia, i.e. Jakarta, Bandung, Surabaya, Semarang and Medan. Bank SBI Indonesia also has 1 (one) cash point located in the Indian Embassy of Indonesia Jakarta.