SBI plans to open 23 overseas branches by March

State Bank of India,which derives around 12 per cent of its total revenue from the overseas business,at present has 137 branches abroad.

SBI plans to open 10-11 new branches in Nepal,where SBI has the largest foreign presence,by March. This will take its total branch-strength in Nepal to 48 from 37 now.

In Washington,where SBI already have a representative office,the bank plans to open one branch shortly that will undertake a mix of business activities,including retail banking,the official said.