In this column, the chief of India’s largest commercial bank in the UK reflects on the company’s offering for the British Indian diaspora and beyond with convenience and ease of use at the heart of its services.
State Bank of India (SBI) is one of the leading banks in the world and a Fortune 500 company. With a 200-year heritage, it is the largest commercial bank in India. SBI has been active in the UK since 1921 and has grown to become the largest Indian bank in UK.
Its UK operations are the largest international operation and offers wholesale banking and retail products. SBI’s London branch offers a wide range of wholesale and corporate services including Syndicated Loans, Bilateral Loans, Supply Chain Finance, Beneficiary Lending, etc. The bank’s trade department in the UK handles thousands of commercial transactions across the globe every year. Other products and services of SBI’s London branch include Corporate Banking, M&A Financing, Commercial Lending and NRI Services.
The bank’s retail-focussed subsidiary, State Bank of India (UK) Limited (SBI UK), which has started in 2018 has 12 branches across UK, seven of which are located in London and five outside of London in Birmingham, Leicester, Coventry, Wolverhampton and Manchester. SBI UK offers full range of products and services including – Commercial Lending, Buy to let Mortgages, Remittance, Flexi ISA, Cash ISA, Safe Deposit Lockers, Instant Access Savings Account, Business Account and Fixed Deposits.
As part of the bank’s plans to expand its digital offering in the UK, last year SBI UK launched its digital banking app YONO [You Only Need One] SBI UK. YONO SBI UK aims to provide customers with a more seamless, convenient, easy-to-use mobile app for their banking needs. YONO SBI UK, has a range of services and benefits such as allowing to open a new bank account online, get preferential rates on remittances to India for both customers and non-customers, amongst other things.
The app also enables customers to view their SBI India accounts also. YONO SBI UK mobile app is available on the App Store and Google Play store. Having proudly served the UK community for almost 100 years, State Bank of India remains committed to its corporate, business and individual customers.
by Sharad Chandak
Sharad Chandak is the UK Regional Head of State Bank of India (SBI), India’s largest bank, with over 30 years’ experience in the field of banking.
*More information on SBI in the UK, here