State Bank of India (SBI) has inaugurated its sixth branch in Singapore, expanding its footprint in the country's heartland. The new branch has come up in Ang Mo Kio area, which is popular for its housing estates. The new branch underlines SBI's growing banking business in Singapore.
The bank already operates branches in housing estates Marine Parade and the industrial estate of Jurong. It has two branches in Little India precinct as well as one in the central business district.
SBI offers the highest interest rates on deposits among other banks here, handles wealth management, insurance and rupee remittances among a wide range of services.