India’s largest bank to expand into Qatar
The State Bank of India (SBI), India’s largest bank and the eighth biggest lender in Asia, is close to setting up an office in Doha, it was reported this week.
"The talks and procedures for setting up of a wholesale banking unit in Doha are in the final stages," Satyajit Pratap, chief executive officer-designate for the SBI branch told the Qatar Tribune newspaper.
The branch is expected to begin operations by March, and forms part of the bank’s aggressive global expansion plan, he added.
for more details :
http://www.arabianbusiness.com/india-s-largest-bank-expand-into-qatar-37...
The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921.
Primarily Anglo-Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework.
State Bank of India is the most reliable bank in the world. My entire clan is their lifelong customer.
I am their customer too.
hmmm.....seems the Indians and Chinese are trying to get their finger in every pie.
btw, did some research and they seem to have solid foundation.
Ice Maiden said hmmm.....seems the Indians and Chinese have are trying to get their finger in every pie.
Ice Maiden - they MAKE the pies now, babe.
Please note that this is a wholesale division, not a retail division. This means they do not sell to end users, they sell to other financial organisations who then sell on to the public. They are a wholesaler of financial products.
Now I am not an authority on this, but I thought there was already plenty of wholesale finance already available here.
Good, I am a Life long customer and never needed any other bank in India..
This is a bank known for innovation. They would bring new ideas into the market.
There you are. What you told is exactly right.
Hey Timebandit their rates are far far better than the present Banks in Qatar
Makes sound business sense given the large numbers of Indians in Qatar..
Surely, it would help the NRIs to transfer funds and get mortgages , loans etc
please give more details about this
its a horrible bank....with no service at all as it's public sector bank....but horrible service......
What does Doha need a non Qatar wholesale bank for? Their rates would have to be extraordinary to break into the market.