SBI is readying to open its third full-fledged branch in the US by end-fiscal, to widen its network abroad. The bank is likely to get the approval from the US Federal Reserve Board early next year and is understood to have received the first clearance from the New York State Banking Department. SBI has already two full-fledged branches in the US (New York and Chicago) and a representative office in Washington. The bank has a subsidiary in California - SBI California, which has six banks in the US - Los Angeles, Artesia, San Jose, Fresno, Congoa Park and San Diego. The third branch is expected to come up in New York and it will focus mainly on corporate lending.
Dec 31, 2007
SBI to open third branch in US
SBI is readying to open its third full-fledged branch in the US by end-fiscal, to widen its network abroad. The bank is likely to get the approval from the US Federal Reserve Board early next year and is understood to have received the first clearance from the New York State Banking Department. SBI has already two full-fledged branches in the US (New York and Chicago) and a representative office in Washington. The bank has a subsidiary in California - SBI California, which has six banks in the US - Los Angeles, Artesia, San Jose, Fresno, Congoa Park and San Diego. The third branch is expected to come up in New York and it will focus mainly on corporate lending.
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