SBI, ICICI Bank lead peers in global branch network

Thiruvananthapuram, Nov. 14: State Bank of India and ICICI Bank appropriated to themselves the credit of running the most extensive global networks from among the country's public and private sector banks.

State Bank of India (SBI) owns the largest network of foreign offices (64) as at August-end, says the Report on Trend and Progress of Banking in India 2010-11.

Bank of Baroda followed with 60. Together, these two accounted for 51 per cent of total foreign offices of banks.

SBI also undertook the largest expansion of foreign operations by opening five new offices abroad during the year under reference.

ICICI Bank (19) led the private sector banks in terms of largest foreign presence.

FOREIGN BANKS

The number of foreign banks operating here is 38 (34 a year ago). The number of branches too rose to 321 (315). Another 47 (45) banks had representative offices.

Standard Chartered had the largest network, followed by HSBC, Citibank and the Royal Bank of Scotland.

Permission was granted to National Australia Bank, Industrial and Commercial Bank of China, Rabobank International and Woori Bank to open one branch each.

Besides, Sumitomo Mitsui Banking Corporation was allowed to open a representative office.

Foreign operations of Indian banks expanded to a network of 244 offices as compared with 233 offices in the previous year.