~ First branch outside California takes SBIC Bank’s US network to eight branches ~
State Bank of India (SBI) has inaugurated a new branch of its wholly owned US subsidiary, SBIC Bank, at Frisco, North Dallas, Texas. Inaugurated by SBI Chairman Shri Challa Sreenivasulu Setty, the branch marks SBIC Bank’s first expansion beyond California, taking its US network to eight branches.
The new branch will cater to the banking needs of individuals, professionals, entrepreneurs and businesses in the region. Its services will include retail deposits, commercial lending, international remittances and specialised Non-Resident Indian (NRI) banking solutions.
Speaking at the inauguration, Shri Challa Sreenivasulu Setty, Chairman, SBI, said, “The inauguration of SBIC Bank’s Texas branch marks a significant milestone in SBI’s international growth journey. Our expansion beyond California reflects our commitment to strengthen our presence in strategically important markets, serving the vibrant local communities, Indian diaspora, and supporting the banking needs of individuals and businesses. It further reinforces our role in deepening financial and economic ties between India and the United States.”
SBI’s international network spans 245 overseas points of presence across 29 countries, complemented by correspondent banking relationships with 222 banks across 56 countries. The bank also operates three direct branches in New York, Chicago and Los Angeles, along with a representative office in Washington DC.
In Q2 FY27, SBI’s foreign office advances grew 22.86% year-on-year to ₹8,31,332 crore, while deposits increased 22.61% to ₹2,83,319 crore.
