SBM Bank India Ltd

Second largest bank in Mauritius with domestic market share of more than 20% in advances and deposits at August 2016. In line with its strategic goal of international diversification, the SBM Group set up presence in India in 1994 and currently operates 4 branches in Mumbai, Chennai, Hyderabad and Ramachandrapuram with a corporate office in Mumbai. One of the reasons for SBM to start its international footprint in India is because of the strong links that exist between these two countries with around three-quarters of the Mauritian population being of Indian origin. SBM Group is involved, amongst others, in the financing of trade and investment both in Indian rupees and in foreign currency through Indian operations as well as through the headquarter in Mauritius. We have opted to convert our branches into wholly owned subsidiary (WOS) which will be set up in India. The in-principle approval from the Reserve Bank of India has already been received.