State Bank of India opens branch in Qatar

State Bank of India has started operations in Qatar with the inauguration of a branch in Qatar Financial Centre, Doha. The branch will cater to corporate clients and offer products such as project finance, syndication and trade finance. The branch was inaugurated by Minister of State for External Affairs, Mr E Ahamed, said a press release from the bank.

Mr Hemant Contractor, Managing Director and Group Executive (International Banking), SBI, said, the branch will promote the growth of bilateral trade between India and Qatar.

Mr A. Krishna Kumar, MD and Group Executive (National Banking), SBI, said, “The branch will deal in local as well as foreign currencies and will offer services to business customers including individuals with very high networth.”

SBI has over 13,700 branches in India and 170 overseas offices in 34 countries, said the press release.