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State Bank of India (Canada) ('SBIC'), was established in 1982 as a wholly owned subsidiary of State Bank of India, the largest Bank in India with more than 200 years of reputation for customer’s trust and service. SBIC is rendering yeoman service to Canada in Ontario and British Columbia for the last 29 years, through its 7 branches: 4 branches viz., Toronto, Mississauga, Scarborough, and Brampton are in GTA and 3 branches viz., Vancouver, Surrey and Abbotsford are established in British Columbia. The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. It also has around 130 branches overseas.

SBIC Branches in Canada offer excellent service to the customers with its able staff drawn from diverse communities and origin fluent also in different Indian languages besides officials from the Parent Bank. is a registered member of the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all Canada’s chartered banks.

SBIC committed to develop and deliver the most innovative products, manage customer experience, deliver quality service that contribute to brand strength, develop a competitive advantage and enhance profitability, thus providing value to the stakeholders of the bank.

State Bank of India Canada is Schedule II banks in Canada. The Schedule II banks are foreign bank subsidiaries authorized under the Bank Act to accept deposits, which may be eligible for deposit insurance provided by the Canada Deposit and Insurance Corporation. Foreign bank subsidiaries are controlled by eligible foreign institutions.

In Canada, the Office of the Superintendent of Financial Institutions (OSFI) is responsible for administering a number of federal statutes, including the Bank Act and the Trust and Loan Companies Act, the statutes applicable to the regulation of banks and federal trust and loan companies.