THEBUSINESSBYTES BUREAU

MUMBAI, NOVEMBER 7, 2026

 State Bank of India (SBI), the country's largest lender, has expanded its presence in the US with the inauguration of a new branch of its wholly owned American subsidiary, SBIC Bank, at Frisco in North Dallas, Texas, marking its first branch outside California.

The inauguration, conducted by SBI Chairman Challa Sreenivasulu Setty, marks a significant milestone in the bank's international expansion strategy and takes SBIC Bank's US branch network to eight from seven earlier.

The strategic expansion into Texas, one of the fastest-growing business and economic hubs in the US, is aimed at strengthening SBI's reach among the Indian diaspora, professionals, entrepreneurs and businesses while catering to the growing demand for cross-border banking and financial services.

"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 strengthening our presence in strategically important markets, serving vibrant local communities and the 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," Setty said at the inauguration.

The new branch will offer a comprehensive range of personal and business banking services, including retail deposits, commercial lending, international remittances and specialised services for Non-Resident Indians (NRIs). The initiative is expected to enhance banking convenience for customers while supporting trade, investment and economic engagement between the two countries.

Apart from its eight SBIC Bank branches, SBI operates three direct branches in New York, Chicago and Los Angeles, besides a representative office in Washington DC, underlining the strategic importance of the US market in its global operations.

The latest expansion further strengthens SBI's international banking network, which spans 245 overseas points of presence across 29 countries through branches, sub-offices, representative offices, foreign banking subsidiaries and joint ventures.

The bank also has correspondent banking relationships with 222 banks across 56 countries, facilitating international trade, cross-border payments and other financial transactions. Its YONO Global digital banking platform is operational across 14 foreign offices and subsidiaries, providing customers with seamless access to banking services across international markets.

SBI's overseas operations have also registered robust business growth. During the second quarter of FY27, its foreign office advances rose 22.86 per cent year-on-year to Rs 8,31,332 crore, while deposits mobilised through foreign offices increased 22.61 per cent to Rs 2,83,319 crore.

The strong growth in overseas advances and deposits underscores the increasing contribution of SBI's international operations to its overall business expansion.