Mr O. P.Bhatt, Chairman, State Bank of India, wants to move the headquarters of the bank's international business outside India and also induct people of international eminence on SBI's board. This is part of the bank's larger strategy to become India's multinational bank.
Currently, overseas operations contribute to 12-15 per cent of the bank's profits and the aim is to increase it to 25 per cent over three-four years.
SBI currently, has 150 offices outside India. It is in the process of setting up regional structures or hubs across the world, each of which would be responsible for the administration and other operations of a certain geographical area. The overseas branches then would not need to report to the Chief General Manager in charge of international operations in India. There would be six-seven such hubs, including in New York, London, Frankfurt, Hong Kong, and Dubai. Dhaka will have a separate country head.
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