SBM Bank India is a subsidiary of SBM Holdings Ltd, a Mauritius-based financial services group. The bank operates in India as a scheduled commercial bank and offers a range of products and services to its customers. Here’s a brief overview of SBM Bank India’s products, industry, future, revenue, and profit:
Products: SBM Bank India offers a range of products and services including savings and current accounts, fixed deposits, loans, credit cards, and other banking services such as online banking, mobile banking, and ATM services. The bank also provides corporate banking, trade finance, and treasury services to its clients.
Industry: SBM Bank India operates in the highly competitive Indian banking industry. The Indian banking sector is undergoing significant transformation with the adoption of digital technologies and the entry of new players. The sector is also heavily regulated by the Reserve Bank of India (RBI).
Future: SBM Bank India has ambitious plans for growth in India. The bank plans to expand its branch network and digital banking capabilities to serve more customers across the country. SBM Bank India also plans to focus on corporate banking and trade finance to support the growth of small and medium-sized enterprises (SMEs) in India.
Revenue and Profit: SBM Bank India is a relatively new player in the Indian banking industry, having started its operations in 2019. As such, the bank’s revenue and profit figures are not yet publicly available. However, SBM Holdings Ltd, the parent company of SBM Bank India, reported a net profit of MUR 2.4 billion (approximately USD 60 million) for the financial year ending June 30, 2021