SBI becomes first Indian bank to have office in Australia’s Victoria
Team Udayavani, Sep 30, 2019, 5:25 PM IST
Melbourne: The State Bank of India opened its Melbourne office on Monday, becoming the first Indian bank to have a branch in the Australian state of Victoria.
The Melbourne office will assist the growing trade and investment relations between Victoria and India and is the outcome of the state’s 10-year India Strategy our shared future, according to a press release.
Speaking at the inauguration here, Victoria’s parliamentary secretary to the treasurer, Steve Dimopoulos, said, “We are delighted to welcome the State Bank of India to Victoria the first Indian bank to set up operations in our state.”
“This investment by India’s largest commercial bank is a testament to our thriving financial services sector and our highly skilled workforce,” he said.
According to official figures, the two-way merchandise trade between Victoria and India was to the tune of 1.76 billion Australian dollars in 2018.
SBI Managing Director Dinesh Kumar Khara said “It is a great privilege to have our presence in the vibrant and business-friendly city of Melbourne. I am confident that our footprint in Melbourne will further strengthen the relationship between the two countries”
Victoria already has the presence of leading Indian businesses, including Cipla, Cyient, HCL, Infosys, Ramco, Samvardhana Motherson Group, TCS, Tech Mahindra, Ugam Solutions, Wipro, Zoonga and Zomato.
Victoria’s financial sector employs more than 122,000 people and generates around 40 billion Australian dollars every year.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Stock markets stage strong rebound after 4 days of slump, Sensex rallies 599 pts
PHF Leasing Limited raises $10 Mn through a mix of equity and debt
CCPA asks FSSAI to probe claim of Nestle adding sugar to baby products
Markets tank in early trade as Middle East tensions flare-up
Tesla shares tumble below $150 per share, giving up all gains made over the past year
MUST WATCH
Latest Additions
SC quashes Bombay HC order, says spl court presided over by sessions judge can try complaints under IBC
Mangaluru: ‘Five and a Half CMs’ governing Karnataka, says Gaurav Bhatia
Congress, Left ideologically bankrupt, says Nadda
Mangaluru: Bajrang Dal demands death penalty for accused in Neha Hiremath murder case
There will be chaos if we start entertaining pleas against rejection of nomination papers: SC