SBM Bank India

Last updated

SB M Bank India
Company type Public
Industry Finance and Insurance
Founded1st December 2018
Headquarters,
Key people
Ashish Vijayakar(MD and CEO) [1]
Products Banking
Number of employees
350+
Parent SBM Holdings Ltd
Website www.sbmbank.co.in

SBM Bank India is a subsidiary of the State Bank of Mauritius. It was the first bank to receive a banking license from the India's banking regulator Reserve Bank of India (RBI) to establish a universal banking business in the country as a wholly owned subsidiary. [2] [3] [4] It was incorporated on 1 December 2018 as a private sector bank headquartered in Mumbai. [5] [6] [7] It also operates from New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Ahmedabad, Kolkata, Chandigarh, Ludhiana, Surat, and in the rural centers of Ramachandrapuram and Palghar. [8] [9] [10] [11] [12] [13] [14]

Contents

History

SBM Bank (India) Ltd. is a step-down subsidiary of SBM Holdings Ltd, a listed entity in the Mauritius Stock exchange, promoted by the Government of Mauritius, brought its rich experience to India by setting up the Indian Operations in 1994. [15]

Products and services

SBM Bank (India) Ltd. focuses on retail banking products under the brand "SBM Private Wealth" and customized wholesale banking products. [16] [17]

Tie-ups and Partnerships

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References

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