State Bank of India to add overseas branches

Additional 23 branches will give State Bank of India the distinction as Indian bank with largest foreign presence.

The State Bank of India will add 23 units to its foreign-branch network bringing its number to 160 by March 2010 from 137 at present, the Economic Times wrote citing a senior bank official.

The move will cement its leading position as the bank with the largest global presence among local peers, as stated in a report in Trading Markets.

The bank will open 10-11 branches in Nepal where it has a solid footprint raising its branch network there to 48 units from 37.

The lender will set up a branch in Washington where it already has a representative office, the official said.