Indias biggest bank to open in Amsterdam

22nd May 2011, Comments 0 comments

India’s State Bank intends to open a branch in Amsterdam, capital officials say.

India’s biggest bank confirmed its plan earlier this week when Amsterdam Mayor Eberhard van der Laan was in India on an official visit.

It is the first time an Indian bank opens an office in the Netherlands, according to the mayor’s office.

The bank will need at least a year to open its doors in the Dutch capital, which says it will do all it can to help the bank in the process.

Based on prior experiences involving Japanese and Chinese banks, Amsterdam officials say banks are “the spin at the centre of the web”, in that they help attract more companies from their countries of origin.

Amsterdam has been busy attracting Indian companies for several years now.

Over the past five years, the number of Indian companies in the region around the capital has consequently quadrupled.

In all, there are now 70 Indian companies, many of them ICT firms, which together provide 1,500 direct jobs.  

© Radio Netherlands Worldwide

© Radio Netherlands Worldwide

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