Mumbai, November 07, 2026: State Bank of India (SBI) has expanded its US presence with the inauguration of a new SBIC Bank branch in Frisco, North Dallas, Texas, marking the subsidiary’s first branch outside California and increasing its US network to eight branches.
The new Dallas branch, inaugurated by SBI Chairman Challa Sreenivasulu Setty, reflects SBI’s ongoing international expansion, which now includes 245 overseas points of presence across 29 countries. In addition to the eight SBIC Bank branches, SBI operates direct branches in New York, Chicago, and Los Angeles, as well as a representative office in Washington DC.
Expansion targets growing Dallas market
Located in one of the fastest-growing business and economic centres in the US, the Dallas branch aims to serve a diverse customer base, including individuals, professionals, entrepreneurs, and businesses. The branch will offer personal and business banking services, such as retail deposits, commercial lending, global remittances, and specialised Non-Resident Indian (NRI) offerings.
According to SBI, the new branch is intended to address the evolving banking needs of the region’s expanding community and to provide convenient access to a wide range of financial solutions.
Chairman Setty highlights international growth
“The inauguration of SBIC Bank’s Texas branch marks a significant milestone in SBI’s international growth journey. Our expansion beyond California reflects our commitment to strengthen our presence in strategically important markets, serving the vibrant local communities, Indian diaspora, and supporting the banking needs of individuals and businesses. It further reinforces our role in deepening financial and economic ties between India and the United States,” said Challa Sreenivasulu Setty, Chairman, State Bank of India.
Strong growth in overseas operations
In the quarter ended September 30, 2026, SBI reported that its foreign office advances rose 22.86% year-on-year to Rs 8,31,332 crore, while deposits from foreign offices increased by 22.61% to Rs 2,83,319 crore. The bank’s international operations cover retail and corporate banking, trade finance, and investment banking, and are supported by correspondent banking relationships with 222 banks across 56 countries. SBI’s YONO Global digital banking platform is now available across 14 foreign offices and subsidiaries.
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