NEWS & ADVICE : FIXED DEPOSITS
State Bank of India plans to set up its second branch in China
By Neelima Shankar
Jan 28, 2013
Print    Email    RSS   

The country's largest public sector bank, State Bank of India, is all set to open its second branch in China, in the port city of Tianjin. It is speculated that the second branch will be set up with a capital of $50 million.

The new branch is scheduled to be set up before February, said the Chief Executive Officer of SBI, Shanghai branch, Mr. Dinesh Sharma.

Reportedly, SBI set up its first branch in Shanghai in the year 2006 and already has presence in Tianjin through its representative office there. Apart from SBI, a number of other banks also have presence in China.

Like the Bank of India which has a branch in Shenzhen city and a representative office in Beijing. UCO Bank and Allahabad Bank also have one representative office each in the capital city of Beijing. Canara Bank has a fully operational branch in Shanghai, whereas private sector lender ICICI Bank is planning to open its branch in China's business hub.

As compared to the presence of several Indian banks in China, China has just one branch in India. It has a branch of Industrial Commercial Bank of China, (ICBC) in the city of Mumbai.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Haven’t filed a return of your income?...
Fetch higher interest rate on your savings...
Carnival of Indian Personal Finance Blogs...
Recurring deposit facility by IDBI Bank
Manage your FD in a better way


Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive