State Bank of India (SBI), which enjoys the largest overseas presence among domestic banks, is in advanced stages of opening 23 more branches abroad over the next four months, a top SBI official said.
“Moving to newer markets is critical for SBI in the backdrop of India’s increasing integration with the rest of the world. We will increase our overseas presence to around 160 branches by March,” the official said.
SBI, which derives around 12 per cent of its total revenue from the overseas business, at present has 137 branches abroad. SBI plans to open 10-11 new branches in Nepal, where it has the largest foreign presence, by March. This will take its total branch-strength in Nepal to 48 from 37 now.
In Washington, where SBI already have a representative office, the bank plans to open one more branch shortly.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app