Before knowing about SBI Branch Code 99922, we need to know little about Corporate Banking. Corporate banking is a subcategory of banking that involves a wide range of banking services that deal with retail customers, whereas corporate banking is a banking industry part. It deals with corporate customers.
Corporate banking works directly with the business sectors to facilitate the loans, savings account, credits, and checking accounts, which are mainly designed to provide better facility to business or companies and not for individuals.
Service provided by corporate banking
Companies use this service for managing the working capital requirements. It is essential for many multinational companies as they facilitate currency conversion.
The corporate banks provide the service, which includes selecting retirement and healthcare plans. It also includes the payroll facilities for the company employees
Corporate banking offer loans and related credit products. The facilities of credit from a large number of profits through commercial banks. The interest rate imposed on your loan from corporate banks is high because of the considerable risk involved in lending to any corporate customers.
Fixed asset for financing
This asset required financial services as it is essential for corporates involved in capital-intensive industries like transportation, heavy machinery manufacturing, and information technology. The banks provide customized loans and lease agreements to buy the machinery, equipment, and more.
The corporate bank provides the commercial service such as the leverage analysis, portfolio analysis, equity restructuring, debt, analyzing real estate, and many other services which are essential for the corporate client which consist of the underwriters for initial public offerings (IPO) and asset management services.
This service comes under the investment banking arm, which is a part of a commercial bank. Investment banking and corporate banking were separated in the provision of the Glass Steagall act.
Even many government banks provide the facility of government banking, such as the state bank.
The state bank corporate internet banking service is designed to help the business. The corporate internet banking service provides every service as that of the corporate bank. It also provides the SBI branch code 99922 to provide service to the corporate customers, which can be operated anytime.
Actually, SBI branch code 99922 and IFSC Code SBIN0099922 belongs to corporate internet banking. There is no physical branch or location exist with this branch and IFSC code.
|Branch/Office Name||Internet Banking|
|Weekly Holiday||No Holiday|
Characteristics of corporate banking
A company can open an account for the corporate bank after obtaining the consensus from the company’s director boards. This states that the head should be authorized through an official vote or corporate resolution. The company treasurer usually opens the corporate account
As the companies were known as separate legal entities by the law, every corporate account content is company property, and it doesn’t belong to any individual board members. This signifies that there is some form of independence to the corporate accounts. This also consists of the director boards’ creditors, which are not entitled to the company corporate account’s content.
It serves every business, be it a large, middle-sized sized or small business firm. The corporate bank serves every customer and even the large conglomerates.
With these, all feature a corporate company is set up, which mainly serve to help the corporate sectors of our country grow a business. The corporate bank is an affiliate with private banks, but government banks also help the corporate sector provide this facility.