In January 1998, State Bank of Mauritius "SBM Group" incorporated a new subsidiary, Banque SBM Madagascar in the capital, Antananarivo. It operates 2 branches one in Antananarivo as main office and one in Toamasina. SBM Madagascar mainly caters for the trading and business requirements of the domestic market. In line with SBM Group strategy, it also offers a wide range of corporate and commercial banking products and services customised to suit the priorities and aspirations of its customers. It is a perfect link to assist Business people from Madagascar in their dealings not only in Mauritius but also in India where SBM Group operates branches in Mumbai, Chennai and Hyderabad. SBM aims to be one of the key banks in the economic landscape of Madagascar. Emphasis is currently being laid on corporate banking activities with a view of exploring other areas of development.