New Delhi, November 2: During her ongoing visit to Sri Lanka, Union Finance Minister Nirmala Sitharaman officially opened a new State Bank of India (SBI) branch in the city of Trincomalee. The inauguration ceremony was attended by Governor of Eastern Province Senthil Thondaman, India's High Commissioner to Sri Lanka Gopal Baglay, and SBI Chairman Dinesh Khara.

The Union Finance Ministry's statement highlighted that SBI, with its remarkable 159-year legacy, holds the distinction of being the oldest bank in Sri Lanka, and it continues to expand its presence both domestically and internationally.

In the midst of the Sri Lankan economic crisis, SBI's operations in the country played a pivotal role in facilitating a seamless extension of a $1 billion line of credit from the Indian government to Sri Lanka, as noted by the Ministry.

Additionally, SBI Sri Lanka plays a crucial role in supporting corporate entities engaged in international trade.

The Ministry's statement on the X platform further noted, "SBI in Sri Lanka continues to enhance remittance services through a robust #DigitalPlatform, including the SBI Sri Lanka YONO app and online banking, alongside traditional in-branch operations."

During her three-day visit to Sri Lanka, Sitharaman is scheduled to inaugurate another SBI branch in Jaffna on Friday.