State Bank of India opens Israel branch
India's largest bank inaugurates its first Israeli branch in Ramat Gan
The ceremony was attended by the bank's chairman and president, OP Bhatt, Bank of Israel Governor Stanley Fischer and leading businesspeople.
The new branch is located at the Diamond Exchange Compound on 3 Jabotinsky Street in Ramat Gan.
SBI's Ramat Gan branch
This is the bank's 84th branch outside of India, in addition to more than 13,000 branches inside the country. The bank holds assets worth more than $130 billion and employs about 185,000 workers. It has more than 100 million clients.
The Israeli branch will focus on financing businesses, particularly in a bid to develop the commerce relations between Israel and India. Apart from diamonds, the bank may also become involved in the fields of telecommunications, high-tech, chemicals, textiles, agriculture, processed foods, health services and pharmaceutics.
The bank said in a statement that "companies which are active in the international arena will benefit from the bank's international presence, and the bank's customers will have access to the large network of SBI's branches and subsidiaries which specialize in investments and activity in India."
