India's largest state-run bank has opened a branch in the Gulf state of Oman, becoming the ninth foreign and second Indian bank to operate in the sultanate.
"We are delighted to welcome India's largest bank to the sultanate," Hamoud bin Sanghour al-Zadjali, executive president of Oman's central bank, was quoted as saying by the Omani press on Sunday.
"We wish the State Bank of India all success in its endeavour to take part in Oman's economic activity," he said while inaugurating the new Muscat branch.
Chairman of the State Bank of India, A. K. Purwar, said the bank would offer a full range of services focusing on corporate and trade financing.
The bank has 9,037 branches in India and 53 offices abroad, Purwar said.
The State Bank of India, which has assets of over 100 billion dollars, is the second Indian bank to open in Oman after the Bank of Baroda.