State Bank of India opens branch in Qatar

Doha - 15 Dec 2011: Qatarand India has started their trade and banking relation with the formal start of the commercial operation of State Bank of India in the State of Qatar. This 170thoverseas operation of State of Bank of India was attended by high profile SBI dignitaries from India, Indian diaspora, diplomats and top managementofficials from Qatar Financial Centre.

Addressing the inauguration ceremony, Indian Minister of State for External Affairs and Human Resources Development,E. Ahmed said, the launch of operations of the largest Indian bank in Qatar would go a long way in further strengthening the trade and business relations between the two emerging economies.

Indian Ambassador, Geeta Gopalan Wadhwa hoped that the SBI would be able to deploy its whole array of services including retail banking.

Speaking withbhatkallys.com, Managing Director Hemant Contractor said, The opening of this office will further expand the bank`s footprints in the Middle East as SBI already has branches in Bahrain, Muscat and in Dubai, besides managing two exchange companies in the Middle East.

With the opening of the 170thoffice outside India , the SBI will take of the banking needs of corporate and very high net worth business customers, said Chief Executive Officer, Satyajit Pratap.

Chief Executive Officer, Doha Bank, Sitaraman also addressed the gathering. Indian Professional and Business Network President Azeem Abbas, Mohd Altaf, MD, LuLu Hyper markets have also graced the function.

Report by: S.M. Syed Zakir, Correspondent,bhatkallys.com