Bank Name | State Bank Of Mauritius |
Official Name | State Bank Of Mauritius Ltd |
Type | Private Sector Bank |
sbm@sbmgroup.mu | |
Website | www.sbmgroup.mu/home.php?lang=en |
Branches in India | 1 Branches |
State Bank Of Mauritius has about 1 branches spread across India. State Bank Of Mauritius is currently one of about 160 banks (Nationalised, Private, Co-Operative and Foreign) in India.
Below given is the list of states where State Bank Of Mauritius currently have branches. Click on any of the states to find the IFSC code of State Bank Of Mauritius in the state.
State Bank of Mauritius Ltd The government of Mauritius established State Bank of Mauritius in 1973 under the name State Commercial Bank. In 1994, SBM opened its first overseas branch in Mumbai. Then in 1997 the South African bank Nedcor acquired 20.1% of SBM’s voting equity. That same year SBM opened its second branch in India in Chennai, and the next year one inHyderabad. It established a subsidiary in Madagascar in 1998.The next year, SBM and Nedcore established SBM Nedcore International (SNI) as a 50:50 joint venture to engage in offshore banking, and SNI started operations in 2000. In order to avoid any conflict of interest with SBI International, Mauritius (formerly State Bank International), another joint venture offshore company between SBM and State Bank of India, SBM disinvested its 49 percent equity holding in SBI International. In 2005, Nedcor sold back to SBM its 20.1% in the latter, and at the same time took over 100% ownership of SNI. Then Nedcor announced the sale of SNI to Sasfin, which will rename the bank Sasfin Bank International (SBI).
Disclaimer : All the information in this site is provided from authentic source and all efforts have been made to verify and provide exact results. Even though users are requested to reconfirm the data provided with their corresponding bank branch.