State Bank of India India’s largest Bank was founded over two centuries ago and is the flagship of Indian banking. State Bank of India is the only Indian Bank in the elite group of Fortune 500 companies. It is the largest commercial bank in India in terms of assets, deposits, profits, number of branches and employees. The bank has 189 overseas offices spread over 35 countries.
State Bank of India, Shanghai Branch: State Bank of India started operations in Shanghai as a Rep Office in 1997. On 20th April, 2006 the Rep Office was upgraded to a full-fledged Branch and SBI became the 1st Indian bank to start commercial operations in China. The Branch started operations in RMB in March 2010.
SBI Shanghai has been working as an important bridge for financial intermediation between India and China, facilitating growth in bilateral trade and Indian Investments in China. The branch provides loans & advances including Project Loans, Syndicated Loans, Working Capital Loans, Term Loans, Trade Finance, Buyers’ Credit as also various services such as issuance/ advising/ confirmation of Letter of Credits, issuance of Bank Guarantees etc. Presently, the branch is dealing with more than 500 Chinese companies.