SBI expands its footprint in USA with a landmark branch opening at Frisco, North Dallas, Texas; In Q2 FY27, Bank saw its foreign office advances and deposits grow by 22.86% and 22.61% YoY, respectively
FinTech BizNews Service
Mumbai, November 07, 2026: State Bank of India (SBI), the country's largest bank, has marked a significant milestone in its international expansion with the inauguration of a new branch of SBIC Bank at Frisco, North Dallas, Texas, by Shri Challa Sreenivasulu Setty, Chairman, State Bank of India. The inauguration marks a historic development for SBIC Bank, the wholly owned US subsidiary of SBI, as it establishes its first-ever branch outside California, taking its branch network in the United States from seven to eight. Apart from 8 SBIC branches, SBI also operates through its 3 direct branches at New York, Chicago & Los Angeles, and one representative office at Washington DC, reflecting the region’s strategic importance for the Bank.
The landmark expansion represents an important step in strengthening SBIC Bank's geographical presence in the United States and extending its reach to a wider customer base. Strategically located in Dallas, one of the prominent and rapidly growing business and economic centres in the US, the new branch has been established to seamlessly address the evolving banking requirements of the region's vibrant and expanding community, including individuals, professionals, entrepreneurs and businesses.
The Dallas branch will offer a comprehensive suite of personal and business banking solutions, encompassing retail deposits, commercial lending, remittances to India and across the globe, along with specialised Non-Resident Indian (NRI) services. By bringing together a wide range of banking offerings under one roof, the branch aims to provide customers with convenient access to reliable financial solutions while facilitating their personal, professional and business aspirations.
Speaking at the branch opening ceremony, Shri Challa Sreenivasulu Setty, Chairman, State Bank of India, said, “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 strengthen our presence in strategically important markets, serving the vibrant local communities, 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.”
SBI has, over the years, built a formidable international banking network comprising 245 overseas points of presence across 29 countries, spanning branches, sub-offices, representative offices, foreign banking subsidiaries and joint ventures/investments. Its international operations cater to diverse banking requirements across retail, corporate banking, trade finance and investment banking. SBI's global network is further complemented by correspondent banking relationships with 222 banks across 56 countries, strengthening its ability to facilitate cross-border trade, payments and financial transactions. The Bank's YONO Global digital banking platform is enabled across 14 foreign offices and subsidiaries, providing customers with greater accessibility and convenience across international markets. In the quarter ended September 30, 2026, SBI’s foreign advances grew by 22.86% on YoY basis to Rs 8,31,332 cr. while the deposit mobilisation through foreign offices marked a 22.61% jump; taking total foreign offices deposits to Rs 2,83,319 cr.
