SBI is going to expand banking in Bangladesh
Posted on Nov 14 2011 at 06:18:17 AM in Finance & Investment
India’s Largest Lender SBI is looking forward for opens new branches in Bangladesh. SBI will opends two new branches December. Recently SBI opens two branches in khulna and Rajshahi.
SBI now have four branches in Bangladesh at Dhaka, Chirragong, Rajshahi and khulna.
Bangladesh government assured SBI that when Rajshahi and khulna branches stabilize, two more licenses will be given. Banks is also looking for two more branches in Narayangunj and Chittagong.
Shortage of long term finances in Bangladesh helps SBI to make a footprint in huge home loan and retail loans industry.
State bank of India coverage in Bangladesh was about Rs.1,350 cr, SBI will do retail and wholesale home loan business. It has a huge potential in terms of reach. Bangladesh home loan market is a huge potential."