SBI to close down Jaffna branch: reports

The State Bank of India (SBI) has decided to shut down six non-viable overseas branches, which includes the Sri Lanka’s Jaffna branch, according to Indian news reports. 

Citing unnamed sources, DNA India said SBI Jaffna branch in Sri Lanka would be closed on September 30 this year. The Jaffna branch was opened in January 2013.

Other branches that would be closed are in China, Oman, Saudi Arabia, France and Botswana. 

DNA India said the closure of branches is aimed at improving SBI’s financial position.

SBI is India’s largest public sector bank.