SBI Navigates Canada-India Strain Smoothly, Focuses on Growth

Despite diplomatic tensions between India and Canada, the State Bank of India experiences no operational changes in Canada. The bank's chairman affirms its status as a local bank in Canada and outlines plans to boost core income by optimizing product mix and targeting specific customer groups.

The State Bank of India (SBI) has reportedly remained unfazed by the diplomatic strains between India and Canada, continuing its operations in the latter country without major disruptions.

As noted by C S Setty, SBI's chairman, the bank is perceived as a 'local bank' in Canada, maintaining steady relations with regulators and customers alike. SBI has been operational in Canada since 1982, managing eight branches across key cities.

Setty announced that the bank aims to expand its core income, particularly through optimizing its product mix and serving specific groups such as women and senior citizens. This strategy seeks to enhance SBI's profitability in the Canadian banking market.

(With inputs from agencies.)