SBI: Committed to serve its Israeli and Indian clients in all situations

Committed to serve its Israeli and Indian clients in all situations

SBI – The only Indian Bank with presence in Israel 

State Bank of India (SBI), a Fortune-500 company with a rich heritage of over 200 years, is the bank most trusted by Indians over generations. The Bank has presence in 29 countries through 241 Points of Presence. By opening Tel Aviv Branch in 2007, SBI became the first Indian bank to have a full-fledged branch in Israel and continues to be until today.

Situated in the Diamond Exchange in Ramat-Gan, the Branch caters to local corporates through various offerings – Syndicated Loans, Trade Finance including Bank Guarantees for India-related projects, Letter of Credit advising / confirmation, Supply Chain Finance, Business Account and related operations, etc.

As cooperation between India and Israel is on the rise, the Branch is already acting as a bridge to facilitate activities. With SBI’s vast global network (across all time zones and Correspondent Relationships across the globe), support from SBI Treasury and connect with India presents unique capability and outreach for local corporates dealing with India or any other part of the world. 

As the only Indian bank in Israel, the Bank assists Indian corporates having business interests in Israel by providing banking services including Bank Guarantees in favour of local beneficiaries, facilitating remittance of funds, etc.

Facilitating trade in the Indian Rupee (INR): In view of India’s significant trade flows from / to its partner countries and growing interest among the global trading community to trade in the Indian Rupee (INR), it has been envisaged by our Banking Regulators, i.e. Reserve Bank of India, to permit Indian Banks to facilitate settlement of exports and imports of their respective corporate clientele in INR. Israel has been identified as one of the partners countries under this mechanism.

Israeli entities undertaking exports/ imports through this mechanism shall receive/ make payment in INR which shall be credited into the Special Rupee Vostro Account (SRVA), against invoices for the supply/ purchase of goods or services from the Israeli seller/ buyer. SBI Tel Aviv has all the requisite approvals in place to facilitate these transactions.

INR Remittance to India: There has been increased flow of workers from India to Israel. With a view to cater to their requirements for remittance services, the Branch is working on introducing a remittance scheme that will benefit all Indian nationals in Israel.

Challenging times test the strength of any relationship. The current SBI Team led by a visionary CEO Mr. Manivannan V. stood firm and continued to serve its clientele- both local and Indian corporates with full conviction during the current testing times and is committed to further strengthen the connect with its present/ prospective clientele to be a trusted partner in their business endeavours. 

The Branch is committed to further strengthen the connect with its present/ prospective clientele and be a trusted partner in their business endeavours.  

Situated in the Diamond Exchange in Ramat-Gan. SBI Israeli Branch

For enquiries, please contact:

State Bank of India

3, Jabotinsky Street

Ramat Gan, Israel

E-mail: ceo.israel@statebank.com