State Bank of India set to open second branch in China

State Bank of India (SBI) set to open second branch in China.

The second branch of State Bank of India, India’s the largest banking and financial services company, in China with a capital of $50 million, is set to open at the port city of Tianjin, a well developed port city located about 140 km from Beijing.

SBI-LogoChief Executive Officer of SBI, Shanghai branch Mr. Dinesh Sharma told media in Beijing that the new branch with capital of about 300 million Yuan, (about $50 million) would open towards the end of February, 2013.

State Bank of India opened its first branch in Shanghai in 2006 and has a representative office in Tianjin from where the bulk of trade from China to the rest of the world is handled.

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