SBI Mauritius

SBI (Mauritius) Ltd., a subsidiary of the State Bank of India (SBI), is a key player in the Mauritian banking sector, providing a wide array of financial services since its establishment in 1989 as SBI (International) Mauritius Ltd. Initially focused on global business banking, the institution has evolved significantly. A major milestone occurred on October 25, 2008, when it amalgamated with the Indian Ocean International Bank (IOIB), which had a retail presence since 1979, and was rebranded as SBI (Mauritius) Ltd. This merger expanded its footprint across the island.

The bank operates in both the domestic and global business sectors, serving a diverse client base that includes individuals, corporations, and small to medium enterprises (SMEs). Its business model revolves around offering a comprehensive suite of products, including corporate banking solutions like trade finance, project finance, and working capital loans; retail banking services such as car and home loans; and personal banking options. Revenue is generated through interest income on loans and advances, as well as fees from services like foreign exchange transactions, remittances, and treasury operations.

SBI Mauritius provides a full range of products, including multi-currency deposit accounts, loans at competitive interest rates, and robust digital banking platforms like YONO for mobile and internet banking. The bank has a physical presence with 14 branches, including one in Rodrigues, and a network of 20 ATMs across the country. The institution emphasizes its adherence to international best practices and regulatory compliance under the Bank of Mauritius. As of June 2025, the bank is led by Managing Director & CEO Mr. Prashant Kumar Babhale, a veteran with over 25 years in the banking sector.

Keywords: Corporate Banking, Retail Banking, Personal Banking, Global Business, Trade Finance, Project Finance, SME Banking, Treasury Operations, Foreign Exchange, Remittance Services, Digital Banking, Loan Services, Deposit Accounts, Wealth Management, Mauritius, International Banking, Financial Services, ATM Network, YONO Mobile Banking, Commercial Banking