SBI to shift global back office from Kolkata to Mumbai
State Bank of India is likely to shift its centralised global back office and some other foreign exchange related departments from Kolkata to Mumbai, the country's financial capital, in yet another move to centralize operations.
The back office was set up in 2015 in the City of Joy when Anundhati Bhattacharya was the chairperson of the bank. The back office works 22x7 to cater to customers in Sydney, Bahrain, Hong Kong, London and New York.
The bank has not formally announced the move but started preparing grounds for it, three people aware of the development said.
SBI did not comment on the matter.
According to people cited above, the country's largest lender may also shift the foreign currency desk and the derivatives & structured products desk housed in Jeevan Sudha building, one of the major landmarks in Chowringhee, the central business district of the city.
These three operations are part of SBI's global market unit, which has altogether 10 departments under it including international remittances. The three departments under question are manned by 36 officers.
SBI has over time shifted several of its key functions to Mumbai from Kolkata, shedding its legacy. It had shifted its forex dealing room in 1999 and rupee desk in 2008 from Kolkata and Mumbai. It had also closed down the central accounts office in the city earlier and shifted the registered office of the bank from Kolkata to Mumbai.
«The global market unit generates significant revenue,» said Soumya Datta, former general secretary of All India
