State Bank of India to launch residential mortgages in August
India's largest lender, State Bank of India (SBI), is set to enter the UK residential mortgage market in August.
SBI is the world's 50th largest bank and is 59.41% owned by the Indian government. They have been operating in the UK for nearly 90 years and have ten branches.
Ranjnish Kumar, head of State Bank of India UK, told the Financial Times that the financial crisis and subsequent increase in banking sector regulation had provided an opportunity for smaller banks.
February 5, 2012
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