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State Bank of India (SBI),
with a 200 year history, is the largest commercial bank in India in terms of
assets, deposits, profits, branches, customers and employees. State Bank of
India has been playing a major role in fulfilling the global aspirations of
Indian corporations through its 151 foreign offices in over 30 countries.
SBI's presence in the African
continent, apart from South Africa, extends to Mauritius and having joint
venture bank Nigeria as well as representative offices in Cairo, Egypt and
Angola. The increasing trade between South Africa and India, excellent
political equations between the two governments and expanding potential for
economic ties provided the necessary impetus for establishment of the
presence in South Africa. The Johannesburg branch of SBI was established in
March 1997. SBI perceives its role as a facilitator between the business
community in South Africa and India and as a Banking intermediary between
the banks in India and the trade community in South Africa.
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While India-related business
does constitute a thrust area of activity, SBI in South Africa is active in
Corporate Finance, International Trade, Project Finance, Remittances and
Correspondent Banking. The Bank/Branch is manned by a team of skilled and
experienced managers from India coupled with the talent of knowledgeable and
experienced local personnel. Modern infrastructure facilities are in place
and the branch functions in a totally computerised work environment. |
