State Bank of India (SBI)

State Bank of India (SBI) in the Maldives is a foreign branch operation of India's largest commercial bank and public sector financial institution. Operating in the Maldives since 1974, it was the first bank established in the country and pioneered modern banking services in this island nation. SBI Maldives is part of the global SBI network, which maintains over 24,000 branches within India and 244 overseas points of presence across 36 countries.

With four branches and approximately 70 employees serving the Maldivian market, SBI maintains a significant presence in both retail and commercial banking sectors. As of 2021, the bank held total deposits of approximately MVR 5.7 billion, reflecting its substantial role in the Maldivian financial system.