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| Satyajit Pratap: SBI QFC Branch CEO |
“The bank has already taken on lease office space in the Alfardan Towers, West Bay and initiated steps for opening the branch at an early date,” SBI QFC Branch CEO Satyajit Pratap said.
The SBI QFC Branch will be a wholesale banking set-up and facilitate/ provide commercial banking services to the business customers operating from Qatar.
It will provide the financial services of accepting deposits, and providing and arranging credit to high net worth business customers.
The SBI traces its ancestry back through the Imperial Bank of India and to the founding of the Bank of Calcutta in 1806, making it the oldest commercial bank in the Indian
subcontinent.
The SBI is the largest bank in India with over 16,279 branches and 14,190 ATMs. Ranked at 150th spot in the Forbes 2000 list of largest companies in the world, SBI is the only Indian bank to find a place in the Fortune Global 500 list.
SBI has been ranked 8th in the top 25 banks in Asia by The Banker magazine. It provides a range of banking products through its vast network in India and overseas, including products aimed at NRIs.
With balance sheet size of $234bn as on March 31, 2010, SBI is a regional banking behemoth with a market share of 16.28% and 17.72 % in advances and deposits respectively. Headed by Pratip Chaudhuri as the chairman, SBI at the year-end had a network of 150 foreign offices including 42 branches, 90 subsidiaries offices, two joint ventures, eight representative offices and two exchange companies, across 32 countries.