State Bank of India expands into Canada

Bank is eager to raise its profile beyond the Indian community RITA TRICHUR BUSINESS REPORTER State Bank of India (Canada) plans to spice up the competition in this country's banking market by expanding its branch network and revamping its consumer product line – all with an eye to poaching more mainstream Canadian customers from the Big Six lenders. A subsidiary of India's largest commercial bank, State Bank of India (Canada) plans to expand its Canadian footprint with three more branches in Alberta and Quebec over the next two years. The bank currently operates seven branches in Ontario and British Columbia – provinces that boast among the largest communities of Indian expatriates in the world. Four of those seven branches are in the Greater Toronto Area. "It is really an Indian bank in a Canadian environment with a... [read full story]