State Bank of India Maldives (SBI Maldives) is celebrating the 47th anniversary of its operations in the Maldives.
The bank started its operations on 4th February, 1974. SBI was the first commercial bank to open its branch at Male', getting the proud distinction of being the first to introduce commercial banking in Maldives. The bank began as bankers to the Maldivian Government by handling all trade activities through a standby credit line established through its London offices, until the Maldives Monetary Authority was established in 1982.
With a strong legacy of almost five decades, SBI Maldives has been an active partner in the development of Maldivian economy. The bank has earned the trust and goodwill of the Maldivian people and is popularly referred to as “India Bank” by the local populace.
2020 was an incredibly challenging and unprecedented year for SBI. A fire incident at its Male’ Branch tested the bank’s strength amid a global pandemic. SBI proved its efficiency post-fire by having its Male’ operations up and running from a makeshift premise in Hulhumale’ with no interruptions to its services even for a single day.
SBI Maldives designed, developed and launched its new Mobile Banking app “SBI YONO Maldives” on 1st July 2020. The app was designed to provide service on the fingertips of its customers in the ongoing pandemic situation.
On the occasion of its anniversary, the management of the bank thanks its customers and stakeholders for their patronage. The bank also pledged to continue to provide its services in the best possible ways in the upcoming years.
