State Bank of India Opening IDE Branch
May 30, 06 by IDEX Online Staff Reporter
State Bank of India is about to open its first branch in Israel, in the Israel Diamond Exchange complex. After delays that included waiting for a license, the bank will open its doors and provide over a quarter billion dollars in credit to the local diamond industry.
The final date for the opening is not yet known, however, the bank is starting to renovate its new site in the IDE, with hopes that it will open by the end of June.
The bank is planning to extend over $250 million in credit to Israel’s diamond industry, with some estimates going as high as $350 million.
