State Bank of India has expanded its footprint in the United States, with its wholly owned subsidiary State Bank of India (California) — operating as SBIC Bank — inaugurating a new branch at Frisco in North Dallas, Texas. The opening marks the subsidiary's first physical expansion beyond California and takes its US branch network from seven to eight locations, PTI and ANI reported.

Source: PTI

The branch was inaugurated by SBI Group Chairman Challa Sreenivasulu Setty, alongside India's Consul General in Houston, D. C. Manjunath, and Frisco Mayor Mark Hill. "The inauguration of SBIC Bank's Texas branch marks a significant milestone in SBI's international growth journey," Setty said at the ceremony, according to the bank's statement carried by ANI.

Source: ANI

Located in the fast-growing North Dallas region, the Frisco branch will offer a full suite of personal and business banking — retail deposits, commercial lending, remittances to India and across the globe, and specialised services for Non-Resident Indians — aimed at individuals, professionals, entrepreneurs and businesses, including the region's large and growing Indian diaspora, The Hindu BusinessLine reported.

Source: The Hindu BusinessLine

Beyond the subsidiary's eight branches, SBI also runs three direct branches in the United States — in New York, Chicago and Los Angeles — and a representative office in Washington, DC. Globally, India's largest lender counts 245 overseas points of presence across 29 countries, spanning branches, subsidiaries, joint ventures and representative offices.

The bank said Dallas was chosen because it is a major commercial centre, and the new outpost strengthens its presence in what it calls a strategically important US market. The Frisco branch is now open for customers.