The branch will focus on financing businesses especially the burgeoning Indo- Israel trade. SBI is the only foreign bank in Israel engaged in Diamond financing
State Bank of India (SBI) became operational with effect from March 21, 2007, in its 650 sq mtrs new premises in the Diamond Exchange Building. This is the 74th overseas office of India's largest Bank which has a group network of around 15,000 branches in India. After 20 years, this is the new bank branch that is being opened in the “boursa”.
The branch will focus on financing businesses especially the burgeoning Indo- Israel trade. It has an exclusive and secured diamond section and a separate spacious section for others. SBI is the only foreign bank in Israel engaged in Diamond financing.
Besides pre-shipment and post-shipment finance for exports, the branch would extend trade finance including LC & Guarantee facilities. Remittances to Indian Rupee accounts with SBI branches would be carried out in a matter of minutes through Straight Thro' Processing.
Pure Israeli businesses who have operations elsewhere in the world can also make use of SBI's worldwide network. Customers would have access to use SBI'sseveral subsidiaries for investments/operations in India.
SBI in India, which is a pioneer in many fields, including SME and agricultural financing, enjoys the patronage of over 90% of corporate companies and has a luxury of a 100 million client base. The branch hopes to leverage on all its 200 year-old heritage and fundamental strengths to set new standards here.
