The State Bank of India (SBI) planned to start around 1200 new branches in India as well as eight overseas branches in financial year 2013-2014.
SBI planned to open 100 branches in Uttar Pradesh, West Bengal, Andhra Pradesh, Tamil Nadu and Maharashtra under its domestic expansion plan. In the overseas expansion plan, it planned to open two branches in UK and Bangladesh each and one each in Sri Lanka, South Korea, China and Netherlands. It is important to note that South Korea already has SBI branch and now there are plans to upgrade the existing representative office into full-fledged branch.
SBI aimed to open offshore branches for catering to the Non-Resident Indians as well as Indian businesses. By starting these eight offshore branches, the network would increase to 59.
SBI is said to be the largest bank of India with 14677 branches spread across India. In the meanwhile, SBI is also in the process to recruit 1500 Probationary Officers for managing the increasing operations.