State Bank of India has opened its 6th branch in Singapore. The new branch is in Ang Mo Kio area, which is dominated by housing complexes. The bank has branches in Marine Parade and the industrial estate of Jurong. Also, it has 2 branches in the Little India are as also one in the central business district of Singapore. According to Soma Sankara Prasad, country head of SBI in Singapore, about 80% of the bank’s customers are Chinese and the rest are high net worth Indians. The bank offers the highest interest rates on deposits among other banks in Singapore, handles wealth management, insurance and rupee remittances among a wide range of services.
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