SBI to launch second branch in China amid declining business

BEIJING: The State Bank of India is opening its second branch in China in Tianjin, the sister city of Beijing, a senior official said. SBI has been running a branch in Shanghai since 2006.
"We hope to access the northern part of China through Tianjin. We have mostly focused on eastern China operating from Shanghai so far," Dinesh Sharma, chief executive officer at SBI's Shanghai branch, said.
SBI is bringing an additional capital of $47 million for the Tianjin branch, which is likely to be opened in February. It already has a capital base of $76 million for the Shanghai branch. With $123 million at its disposal, the bank says it has a lot of scope for expanding business.