State Bank of India (SBI), country's largest public sector bank is likely to increase its branch network in Bangladesh, by opening two more branches in Bangladesh by December 2012 after opening two new branches at Rajshahi and Khulna recently.
The bank has obtained assurance from the Bangladesh government that the moment it will roll out two branches at Rajshahi and Khulna and once they stabilize, two more licenses will be given. The bank is aiming all together six branches in Bangladesh in one year's time, that is, by December 2012.
SBI planning to detain the home loan retail market and wholesale market in Bangladesh in the absence of lesser availability of long-term finances in the country, as new homes are coming up (in Bangladesh).
Recently, Moody's downgraded its rating of SBI's financial strength by one notch to 'D+' on account of the lender's low Tier-I capital ratio and deteriorating asset quality.
