{"id":464548,"date":"2019-01-31T13:14:55","date_gmt":"2019-01-31T12:14:55","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=464548"},"modified":"2019-01-31T13:14:55","modified_gmt":"2019-01-31T12:14:55","slug":"mauritian-company-sbm-bank-opens-a-subsidiary-in-india","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/01\/31\/mauritian-company-sbm-bank-opens-a-subsidiary-in-india\/","title":{"rendered":"Mauritian company SBM Bank opens a subsidiary in India"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Mauritian bank SBM Bank on Thursday (January 24th) inaugurated its first wholly-owned subsidiary in India. The ceremony was chaired by Pravind Kumar Jugnauth, the Mauritian prime minister.<\/p>\n<p>SMB Group&#8217;s new subsidiary, SBM Bank (India) Limited, will act as a full-fledged universal bank and will thus be the first foreign bank to obtain a banking license from the Reserve Bank of India (RBI) to operate as a wholly owned subsidiary. full share in Indian territory.<\/p>\n<p>By the end of March 2020, the new bank will have four new specialized agencies in the mid-market segment including SMEs and high-end SMEs, while strengthening its presence in the bank. Retail.<\/p>\n<p>&#8220;This change in our Indian strategy to convert our operations into a wholly-owned subsidiary is aimed primarily at strengthening proximity to our Indian customers. This banking license allowing it to function as a universal entity in its own right completes our internationalization strategy. With a greater presence in Kenya through the acquisition of two local banks, SBM is able to accompany and facilitate India&#8217;s trade and investment in Africa, &#8220;said Andrew Bainbridge, President of SBM Group.<\/p>\n<p>The second largest banking institution listed in Mauritius, the SMB group has a strong presence in Kenya and Mauritius.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Mauritian bank SBM Bank on Thursday (January 24th) inaugurated its first wholly-owned subsidiary in India. The ceremony was chaired by Pravind Kumar Jugnauth, the Mauritian prime minister. SMB Group&#8217;s new subsidiary, SBM Bank (India) Limited, will act as a full-fledged universal bank and will thus be the first foreign bank to obtain a banking license<\/p>\n","protected":false},"author":527297,"featured_media":464552,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12000,11996],"tags":[319,15296],"class_list":["post-464548","post","type-post","status-publish","format-aside","has-post-thumbnail","category-banks-insurance","category-finance-en","tag-india","tag-sbm-bank","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mauritian company SBM Bank opens a subsidiary in India - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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