SBM Bank (India) Ltd commenced operations on December 1, 2018. It was the first banking institution to have been granted a license by the Reserve Bank of India to operate as a scheduled commercial bank - offering universal banking services through the wholly-owned subsidiary route. SBM Bank India is a step-down subsidiary of SBM Holdings Ltd. (the erstwhile State Bank of Mauritius Ltd.), a listed entity in the Mauritius Stock Exchange, promoted by the Government of Mauritius.

Armed with world-class deposit and asset products and the latest technology, the Bank seeks to cater to a holistic customer base comprising of retail customers, small businesses, NRIs, retail institutions, Indian corporates, financial institutions, public sector undertakings, multinational companies, and mid-market companies.

The Bank has also designed its products to offer a premium experience – placing relationships first to ensure a higher degree of customisation. As a result, the Bank has opted for a collaborative route over a competitive one – taking banking solutions to existing and prospective clients through direct channels and third-party platforms.

Set on the course of growth, the Bank continues to keep the momentum amidst a global pandemic – making up for the slowdown in business through strengthening its systems and focus. Being a new player, the digital prowess of the Bank offers superior infrastructure support to function as seamlessly despite the physical restrictions. The core philosophy of “Banking for a smarter tomorrow” has been tested and accelerated owing to the unprecedented crisis.

Today, while the world limps to normalcy, the strengths of the Bank in terms of preferring collaboration over competition, digital over physical and niche over generic banking has given it a head-start to perform amidst the new normal.