[sbinews] State Bank of India opens branch in Oman (Sify.com)
- From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
- To: sbinews@xxxxxxxxxxxxx
- Date: Mon, 24 May 2004 20:24:07 -0700 (PDT)
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State Bank of India opens branch in Oman
(Sify.com)
Monday, 24 May , 2004, 18:39
State Bank of India started operating a branch in Oman
on Monday, the central bank of the Gulf Arab state
said.
"The State Bank of India has opened a branch and
started its operation today with a capital of 5
million rials ($13 million)," Hamood Sangour al
Zadjali, the Central Bank of Oman's executive
president, told Reuters on Monday.
He said it was part of Oman's agreement with the World
Trade Organisation to allow foreign banks to operate
in the country.
State Bank, India's largest commercial bank, is the
ninth foreign-owned bank to open in Oman and the
second Indian financial institution after Bank of
Baroda, which started its local operations in 1976.
=====
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