State Bank of India, a Fortune 500 company, is operating in Bahrain since 1977 as a Wholesale Banking Branch. In January 2007 it started its Retail operations with opening of the first Retail Branch in Manama. It now offers a complete range of banking services through its Wholesale and Retail Branches in Bahrain.
A Bank with 59% stake of the Government of India, State Bank of India has grown swiftly in terms of business, profit and customer size in the past 4 years as Retail Bank in Bahrain. In the 5th year of its operation it has expansion plans and has opened a branch in Riffa in the process. Over the last four years, the Retail branch has been offering a wide range of product and services to corporate clients as well as individuals of all nationalities in Bahrain. It offers an entire bouquet of services viz. Savings Bank account, Current Account, Fixed Deposits, Recurring Deposits, Overdrafts, Term Loans, Letter of Credits, Bank Guarantees, Auto Loans, Personal Loans, ATM, Internet Banking etc.
It also provides NRI services to the Non Resident Indians wherein assistance for opening NRE accounts in India is provided. Assistance is also provided for applying for Home Loans in India as also Mutual Fund Investments with SBI Mutual Fund.