UK to be SBI's hub to manage Europe: Bhatt


The country’s largest lender, State Bank of India, plans to set up an administrative office in the UK by fiscal-end that would act as a hub for the bank to control its European operations, said Chairman O P Bhatt on Thursday.

The bank plans to scale up presence in the UK by setting up five new offices in the next one year, starting with one in November, said Bhatt. At present, SBI has seven branches in the UK.  SBI plans to open over 40 new offices globally in the next one year. Currently SBI has 132 foreign offices     including five subsidiaries.

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