SBI opens branch in Saudi Arabia

State Bank of India started operations in Saudi Arabia with the opening of a branch in Jeddah. The branch was inaugurated on December 14 by His Excellency Dr Abdulrahaman Al kalaf, Deputy Governor for Technical Affairs, Saudi Arabian Monetary Agency.

SBI's Managing Directors, Mr Hemant Contractor and Mr A. Krishna Kumar were also present on the occasion, said a press release issued by the bank.

The Jeddah branch is a full commercial branch that offers a bouquet of banking services to the around two million Indian residents of Saudi Arabia. It also offers remittance facility for Indians residents in Saudi Arabia, said a press release issued by SBI.