SBI plans to open branches in Bangladesh, SA

State Bank of India (SBI) is planning to open banches in Bangladesh and South Africa. According to officials of SBI, said there were proposals for opening branches in Chittagong in Bangladesh, and Cape Town and Port Elizabeth in South Africa.

State Bank of India is waiting for taking premission soon in this connection. Currently the bank has 48 overseas offices in over 28 countries and also has plans to upgrade its Sydney and Shanghai representative offices to full fledged branches.

SBI had closed its Jakarta and Sao Paulo representative offices last year as part of restructuring. The one at Moscow, however, was being upgraded to a full-fledged bank in participation with Canara Bank (holding 40 per cent share).