State Bank of India has expanded its banking subsidiary footprint in the United States with the inauguration of a new branch of SBIC Bank in Frisco, North Dallas, Texas. According to reports from Business Standard, the branch was inaugurated by SBI Group Chairman Challa Sreenivasulu Setty, alongside Consul General of India in Houston, DC Manjunath and Frisco Mayor Mark Hill. This expansion increases SBI's total branch count in the country from seven to eight. The landmark expansion represents an important step in strengthening SBIC Bank's geographical presence in the United States and extending its reach to a wider customer base.
The lender selected Dallas as its new location because the city serves as a major commercial centre and one of the prominent and rapidly growing business and economic centres in the US. As reported by Business Standard, the new Frisco branch is designed to offer a full suite of retail and business banking services, including personal and business deposits, commercial lending, and international remittances, tailored specifically for individuals, professionals, entrepreneurs, and corporate entities across North Texas. Chairman Setty emphasized that the inauguration marks a significant milestone in SBI's international growth journey. The outpost is designed to handle retail deposits, commercial lending, remittances across the globe, and specialised services for Non-Resident Indians.
Beyond the eight subsidiary branches, SBI operates three direct branches in New York, Chicago, and Los Angeles, alongside a representative office in Washington, DC. According to Business Standard, the lender's broader international footprint comprises 245 overseas points of presence spread across 29 countries, encompassing branches, sub-offices, representative units, subsidiaries, and joint ventures. SBI also maintains correspondent banking arrangements with 222 financial institutions across 56 nations. The Bank's YONO Global digital banking platform is enabled across 14 foreign offices and subsidiaries, providing customers with greater accessibility and convenience across international markets.
Consul General Manjunath highlighted the branch's role in bolstering India-US economic and commercial ties, while enhancing financial connectivity for the fast-growing Indian diaspora in North Texas. As reported by Business Standard, the inauguration ceremony was led by SBI Group Chairman Challa Sreenivasulu Setty, alongside Consul General of India in Houston, DC Manjunath and Frisco Mayor Mark Hill. This opening marks the subsidiary's first physical expansion beyond California, with its US branches now at eight locations, representing a significant milestone in SBI's international expansion strategy.
For the quarter ended September 30, 2026, SBI's foreign advances rose 22.86 per cent year-on-year to ₹8,31,332 crore, while deposit mobilisation at overseas branches registered a 22.61 per cent increase to reach ₹2,83,319 crore. As reported by The Hindu BusinessLine, digital operations continue through SBI's YONO Global application, which operates across 14 overseas offices and subsidiaries. The Bank's international operations cater to diverse banking requirements across retail, corporate banking, trade finance and investment banking, with the Dallas branch specifically designed to seamlessly address the evolving banking requirements of the region's vibrant and expanding community.
