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SBT plans to start first branch operations in Oman

Written by: Staff
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Dubai, June 7 (UNI) The State Bank of Travancore (SBT), a member of largest banking group in India, is looking at options to start branch operations for the first time in Oman, besides opening representative offices in Dubai and Saudi Arabia.

''We are exploring the options of opening a branch in Muscat, provided there is business potential,'' SBT CGM Pradeep Shankar told Oman Tribune.

He said the Dubai and Saudi Arabia representative office would be subsequently functional as full-fledged banks, and added that deposits from NRIs had grown by Rs 689.24 crore during the last financial year to touch Rs 7875.97 crore.

The bank plans to launch internet booking facility for flight tickets and in order to bring services at par with the best in the industry, it has launched several business process re-engineering initiatives.

UNI XC VJ RA BST1520

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