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SBI (Canada) to open two more branches

State Bank of India (Canada) has decided to expand its operations in the country to meet the growing demand.

india Updated: Mar 20, 2006 15:36 IST

State Bank of India (Canada) has decided to expand its operations in the country to meet the growing demand of Indians settled here.

"Two more branches -- one in Brampton in Ontario, and another in Abeford in British Columbia will be opened by the end of June this year raising the total number of the bank's branches to seven," Shailesh Verma, President and Chief Executive Officer of the bank said.

He was speaking at a function organised by the bank to celebrate Holi, the festival of colours.

Verma said the bank, a wholly owned subsidiary of the State Bank of India, has been instrumental in fostering trade ties between India and Canada by extending financial, advisory and logistic support to Canadian and Indian corporates.

The bank, now operating at five locations in Canada -- Toronto, Mississauga, Scarborough, Vancouver, and Surrey -- has been functioning in the country for more than a decade.

It has extended various facilities to the Indians settled here such as remittance of funds through a network of over 9000 offices of SBI, the largest commercial bank in India, Verma said.

First Published: Mar 20, 2006 15:36 IST