State Bank of India is back in Manila
They’re back for better business.
The State Bank of India has decided to revive its operations in Manila after several years, and the central bank has given its full support for the strategy.
The Monetary Board said it has granted the Indian bank’s request to reopen its representative office in the Philippines, although its operations are limited to “promoting and providing information” about the bank’s services back home.
The Securities and Exchange Commission approved the revival back in June while the Bangko Sentral ng Pilipinas gave the green light a month later.
State Bank resumed operations on Oct. 1, 2017.