SBI Business As Usual in Canada Despite Tensions
By Rediff Money Desk, Mumbai Nov 10, 2024 16:03
State Bank of India (SBI) says its operations in Canada are unaffected by tensions between India and Canada. SBI, present since 1982, is considered a local bank.
Mumbai, Nov 10 (PTI) State Bank of India (SBI) has not seen any impact in Canada despite the ongoing tensions between New Delhi and Ottawa, a top bank official has said.
The Indian government-run lender, which has been present in Canada since 1982, is considered as a "local bank" by all stakeholders in the North American country, its chairman C S Setty said.
"We have not seen any change in approach either among the regulators or the customers, it is business as usual," Setty told PTI.
SBI operates eight branches through a wholly owned subsidiary in Canada, including in Toronto, Brampton, and Vancouver.
"I think we are considered as one of the local banks there -- our engagement in business, banking business is with the local environment there," he said.
India-Canada relationship has been frosty for over a year now, ever since the North American country accused India of plotting assassinations of its citizens and the relationship hit a new low last month with the expulsion of diplomats.
Meanwhile, Setty said the bank will focus on expanding its core interest income through efforts, including pushing yields on advances by having the right product mix.
It will also look to extract more from the same customer in its core income expanding efforts, Setty said.
"I want to assure everyone that our efforts to increase the core income are multifold and we are working on all directions," the chairman said.
Elaborating on the announcement on having dedicated accounts for women and senior citizens, Setty said such a move may involve some initiatives that will enhance their wellness.
The Indian government-run lender, which has been present in Canada since 1982, is considered as a "local bank" by all stakeholders in the North American country, its chairman C S Setty said.
"We have not seen any change in approach either among the regulators or the customers, it is business as usual," Setty told PTI.
SBI operates eight branches through a wholly owned subsidiary in Canada, including in Toronto, Brampton, and Vancouver.
"I think we are considered as one of the local banks there -- our engagement in business, banking business is with the local environment there," he said.
India-Canada relationship has been frosty for over a year now, ever since the North American country accused India of plotting assassinations of its citizens and the relationship hit a new low last month with the expulsion of diplomats.
Meanwhile, Setty said the bank will focus on expanding its core interest income through efforts, including pushing yields on advances by having the right product mix.
It will also look to extract more from the same customer in its core income expanding efforts, Setty said.
"I want to assure everyone that our efforts to increase the core income are multifold and we are working on all directions," the chairman said.
Elaborating on the announcement on having dedicated accounts for women and senior citizens, Setty said such a move may involve some initiatives that will enhance their wellness.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Kretto Syscon
- 1.03 ( -4.63)
- 138373597
- Thinkink Picturez
- 2.03 (+ 4.64)
- 77082948
- Rajnish Wellness
- 1.86 (+ 4.49)
- 51273863
- Vodafone Idea L
- 8.08 ( -0.25)
- 43651174
- Srestha Finvest
- 0.94 (+ 9.30)
- 39839348
MORE NEWS
Sai Life Sciences IPO: Rs 913 Crore from Anchor...
Sai Life Sciences, backed by TPG Capital, raised Rs 913 crore from anchor investors...
Adani to Self-Fund Colombo Port Project,...
Adani Ports will use its own resources for the Colombo West International Terminal,...
Gadkari Announces Rs 30,000 Crore Road Projects...
Union Minister Nitin Gadkari announced Rs 30,000 crore road projects for Rajasthan,...