State Bank of India is currently present in 32 countries including US, UK, Canada and Mauritius. The bank is now planning to mark presence in a few more countries this year. The bank has plans to set up operation in South Korea, Sao Paulo and Botswana.
A bank official said "The bank is looking at opening a representative office in Brazilian city Sao Paulo and a full service branch in South Korea".
The bank said that the focus of the new offices will be on India related business and to provide more facilities to the overseas customers of the bank. At present the contribution of overseas collection in the total business of the bank is 16 percent.
The bank is expanding overseas but the bank has maintained a constant pace in domestic expansion also. The bank opened 611 new branches and 4, 206 new ATM between October 2009 to September 2010.
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