SBI expands US footprint as California subsidiary opens first Texas branch

State Bank of India (California), a wholly-owned subsidiary of India's largest lender SBI, has opened a branch in Frisco, Texas, Business Standard reported. The outlet said this is the subsidiary's first physical branch outside California. Moneycontrol also reported the opening, describing it as the first SBIC Bank branch outside California. A wholly-owned subsidiary is a company whose entire ownership sits with the parent, here SBI. The reports did not give the size of the branch, the cost or the number of staff. The two outlets agree on the location and on the fact that it is the subsidiary's first branch outside California.

AI summary of what Business Standard and Moneycontrol reported. AI can make mistakes. Read the full story on Business Standard