State Bank of India (California), a wholly owned subsidiary of the country’s largest bank State Bank of India (SBI), has inaugurated its new branch in Frisco, Texas. With the opening of this branch, the subsidiary has completed its first physical expansion outside of California. With this, now its branches are in eight places in America. The inauguration ceremony was presided over by SBI Group Chairman C. S. Shetty did. On this occasion the Consul General of India in Houston D. C. Manjunath and Frisco Mayor Mark Hill were also present.
Why was the branch started?
Located in the fast-growing North Dallas area, this new Frisco branch is equipped to provide a full range of retail and commercial banking services. These include personal and business deposits, commercial loans and international money transfers (remittances). These services are specifically designed to meet the needs of North Texas citizens, professionals, entrepreneurs and corporate entities.
Manjunath highlighted the branch’s role in strengthening India-US economic and trade ties as well as increasing financial access to the rapidly growing Indian tourist community in North Texas. SBI also has a strong physical presence in the US in addition to eight centers of its subsidiary based in California. The bank operates full-service branches in New York, Chicago and Los Angeles, as well as a representative office in Washington.
A jump of over 8 percent in a month
Shares of SBI have seen a jump of more than 8 percent in the last one month or so. Looking at the figures, the bank’s shares rose 1 percent on Friday to close at ₹1,016. However, the bank’s shares rose by around 4 percent in the last week alone, taking the bank’s market valuation to ₹9.38 lakh crore. According to experts, the shares of SBI may see further rise in the coming days. In the current year as well, SBI’s shares have so far recorded an increase of more than 3 percent.
Diwali 2026: Why Lakshmi favors even criminals and crooks? Why does the hard worker remain poor?
. Source
