SBI to shut 9 foreign branches to cut costs
The country's largest lender State Bank of India (SBI) is in the process of closing down nine foreign branches as part of rationalisation of overseas operations. "Unless it is commercially viable, it doesn't make sense for us to be operating particularly in foreign locations," MD Parveen K Gupta said. Notably, SBI has over 190 foreign offices spread across 36 countries.