Business · Companies · 15 hrs ago
SBI subsidiary opens its first Texas branch in Frisco
State Bank of India’s US subsidiary opened a branch in Frisco, Texas, its first location outside California.
The new office brings the subsidiary’s US branch total to eight, up from seven.
Frisco is in the North Dallas region, a major commercial area.
The branch will offer deposits, commercial loans and international remittances to individuals and businesses.
It also plans to provide services for Non-Resident Indians and support the growing Indian community in North Texas.
The expansion extends SBI’s subsidiary beyond California and adds a local banking option for customers in the region.
SBI also operates direct branches in New York, Chicago and Los Angeles, and a representative office in Washington, DC.
State Bank of India’s US banking subsidiary opened its first Texas branch in Frisco, North Dallas.
The opening takes the subsidiary’s US branch count from seven to eight and marks its first expansion beyond California.
The branch will offer retail and business banking, including deposits, commercial lending and international remittances.
SBI Chairman Challa Sreenivasulu Setty led the inauguration, which also included Indian Consul General in Houston DC Manjunath and Frisco Mayor Mark Hill.
SBI separately operates direct branches in New York, Chicago and Los Angeles, and a representative office in Washington.
- Who
- State Bank of India’s US banking subsidiary, SBIC Bank, opened the branch. SBI Chairman Challa Sreenivasulu Setty led the inauguration.
- What
- The subsidiary opened its first branch in Texas, bringing its US branch total to eight.
- When
- Not stated
- Where
- Frisco, in the North Dallas region of Texas.
- Why
- The expansion is intended to serve local communities, the Indian diaspora, and individuals and businesses. SBI said it would also support financial and economic ties between India and the United States.
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- Branch location
- Frisco, North Dallas, Texas
- US subsidiary branches after opening
- 8
- Previous subsidiary branch count
- 7
- SBI direct US branches
- New York, Chicago and Los Angeles
- SBI representative office
- Washington, DC
2 sources
What people are saying
The inauguration of SBIC Bank's Texas branch marks a significant milestone in SBI's international growth journey,
Our expansion beyond California reflects our commitment to strengthen our presence in strategically important markets, serving the vibrant local communities, Indian diaspora, and supporting the banking needs of individuals and businesses,
It further reinforces our role in deepening financial and economic ties between India and the United States.