The State Bank of India has commenced operations in Qatar following the inauguration of a branch at the Qatar Financial Centre in Doha. 

The SBI first expressed plans to expand into Qatar in January this year, as reported here. The branch caters to both corporate and private high net worth clients and offers services in the local and foreign currencies. SBI already has a number of branches in the Middle East, including Dubai, Bahrain and Oman. The bank opened an office in Jeddah, Saudi Arabia in July. 

In a statement issued October, SBI said that it intends to open around 100 more branches overseas in the next two years as it moves to tap the growing number of HNW individuals. The State Bank of India has some 13,700 branches in its homeland and 170 overseas offices in 34 countries. Its Gulf operations account for around 25 per cent of its non-resident Indian deposit base worldwide.