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| Ahmed, Wadhwa and Ryan with SBI officials and guests at the formal inauguration ceremony of State Bank of India QFC branch |
Indian ambassador Deepa Gopalan Wadhwa and QFCRA Acting CEO Michael Ryan were the guests of honour.
SBI managing director & group executive (International Banking) Hemant Contractor and managing director & group executive (National Banking) A Krishna Kumar also attended the function.
The Qatar Financial Centre Regulatory Authority has given approval to SBI to open a Category–I bank branch at the Qatar Financial Centre.
The SBI branch will be providing banking services such as accepting deposits, providing credit (including letters of credit and bank guarantees) and arranging syndication of loans.
SBI’s QFC Branch, which is State Bank of India’s 170th ‘Foreign Office’ will function from the Alfardan Towers, West Bay, where the team is led by chief executive officer Satyajit Pratap.
State Bank Group is the largest bank in India with some 19,347 branches and 25,005 ATMs as of March 31, 2011.
State Bank of India in 2011 ranked at 296th in the Forbes Fortune Global 500 rank of largest companies in the world, and is the only Indian bank to find a place in the Fortune Global 500 list.
