ONE OF India's leading lenders, the State Bank of India (SBI), has named Sanjiv Chadha as regional head for the UK. He will take over from Mrutyunjay Mahapatra who returns to India to take up a new role.
Chadha said: “This is an important time in SBI’s 90 year history of operating in the UK as we look to reaffirm our commitment to the UK market and continue to strengthen our position in the retail and wholesale banking arenas.
“We intend to strengthen our lending portfolio in the buy-to-let and commercial mortgages sector. My focus will also be to enhance customer experience across various touch points, while benchmarking our products and services to ensure we remain best in class.”
Since joining the bank in 1987, Chadha's 25 years experience includes corporate finance, investment banking, mergers and acquisitions, structured finance and private equity.
Chadha takes up the new position of regional head with immediate effect. Previously he was the general manager, retail banking, with SBI in India, where he headed a network of 400 branches in Tamil Nadu.
His other recent assignments include holding a leadership position at SBI in Los Angeles from 2002 until 2007; as head of mergers and acquisitions and private equity with SBI Capital Markets, the bank's investment banking arm; and executive secretary to the chairman.
SBI in the UK offers a range of simple and transparent savings products, non-resident Indian (NRI) services and buy-to-let mortgages for retail customers. It has recently entered the SME lending market with its commercial mortgages proposition.
Along with its flagship branch in the heart of the City of London, State Bank of India has nine further branches across the UK.
