Indian Banks with Branches in the United Kingdom
The presence of Indian banks in the United Kingdom reflects both the growing financial integration between these two major economies and the diaspora's need for banking services closer to their home countries. This article provides an overview of Indian banks with branches in the UK, including their historical presence and current status as of recent records.
Historical Overview of Indian Banks in the UK
As of September 30, 2019, several Indian banks had established their presence in the United Kingdom. These banks hold a significant place in the financial landscape, offering essential banking services to both local residents and the Indian diaspora. Some of the prominent banks include:
State Bank of India (SBI)
State Bank of India has a long-standing history in the UK. As per records as of September 30, 2019, SBI operated 7 branches in the United Kingdom. These branches serve the Indian community and provide comprehensive banking services ranging from savings accounts to loans and mortgages.
Canara Bank and Bank of India
Similarly, Canara Bank and Bank of India have also set up their branches in the UK as of September 30, 2019. While specific branch numbers for these institutions during that period are not provided, these banks cater to the diverse needs of the Indian expatriate community in the UK.
Bank of Baroda
Bank of Baroda was one of the banks to establish a branch in the UK as of 2017. At that time, it had 1 branch operating in the country. This presence further strengthens the network of Indian banks, providing local and international banking services.
Syndicate Bank
Syndicate Bank also has a branch in the UK. Although the exact number of branches during the 2019 reference point is not mentioned, Syndicate Bank continues to offer banking services to the Indian community and UK-based professionals.
Current Status of Indian Banks in the UK
Fast forward to the present day, the landscape of Indian banks in the UK has continued to evolve. In recent years, a few more banks have bolstered their presence in the country, including:
Axis Bank
A notable addition to the list of Indian banks with branches in the UK is Axis Bank. The bank is represented by Axis Bank UK Ltd, which operates with a single branch located at 4 Chiswell St, London, UK. This branch serves as a focal point for Indian expatriates and business professionals, offering a wide range of banking services tailored to their needs.
PNB (Punjab National Bank)
Additionally, Punjab National Bank (PNB) has 3 branches in the UK as of the latest available records. These branches ensure that the Indian diaspora in the UK have access to banking services that align with their financial needs.
Conclusion
The presence of Indian banks in the UK underscores the ongoing cultural and economic ties between India and the United Kingdom. Whether through State Bank of India, Axis Bank, Bank of Baroda, or any of the other banks mentioned, Indian banks provide valuable services and support to the Indian community in the UK. As the financial demands of the expatriate community evolve, the future of these banks in the UK looks promising.