SBI to open 2nd branch in China

SBI's second branch in China is set to open at the port city of Tianjin, close to Beijing. The new branch, with a capital of about 300 million yuan (about $50 million), would open towards the end of February, Dinesh Sharma, chief executive officer of SBI, Shanghai branch, said on Saturday.

SBI opened its first branch in Shanghai in 2006 and has a representative office in Tianjin, a well-developed port city located about 140 km from Beijing, from where the bulk of trade from China to the rest of the world is handled.

A host of Indian banks are present in different parts of the country and most of them are benefited by the burgeoning India-China trade.

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