Mumbai: State Bank of India (SBI) has expanded its international banking operations with the inauguration of a new SBIC Bank branch in Frisco, North Dallas, Texas, strengthening its presence in the United States. SBI Chairman Challa Sreenivasulu Setty inaugurated the branch, marking the first expansion of its wholly owned US subsidiary beyond California.
US Expansion
The new Texas branch takes SBIC Bank's network to eight branches in the United States, compared with seven earlier. SBI separately operates three direct branches in New York, Chicago and Los Angeles, alongside a representative office in Washington DC. The expansion aims to serve individuals, professionals, entrepreneurs and businesses in the Dallas region.
Banking Services
The Frisco branch will offer retail deposits, commercial lending, international remittances and specialised Non-Resident Indian (NRI) banking services. The facility is expected to support cross-border financial transactions and strengthen banking connectivity between India and the United States.
Global Network
SBI currently maintains 245 overseas points of presence across 29 countries, including branches, subsidiaries and representative offices. Its correspondent banking relationships extend to 222 banks across 56 countries. The bank's YONO Global digital banking platform operates across 14 foreign offices and subsidiaries.
Strong Growth
SBI's foreign office advances increased 22.86 per cent year-on-year to ₹8,31,332 crore during the September quarter of FY27. Foreign office deposits climbed 22.61 per cent to ₹2,83,319 crore, reflecting growth in international banking operations.
Chairman's Statement
Setty described the Texas branch opening as an important milestone in SBI's international expansion strategy. He said the move would strengthen the bank's presence in strategically important markets while serving local communities and the Indian diaspora.
Future Focus
The expansion reflects SBI's efforts to deepen its overseas presence and support international customers. The bank aims to strengthen financial connectivity, business banking and cross-border services through its growing global network.
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