The Government of Mauritius created the State Bank of Mauritius Ltd in 1973 under the name "The State Commercial Bank Ltd". The bank is listed on the Stock Exchange of Mauritius since 1995. The bank operates 45 branches and counters in Mauritius and has branches in India (Chennai, Mumbai and Hyderabad). It is also present in Madagascar through its subsidiary, Banque SBM Madagascar. SBM offers a wide array of services and products including personal banking, corporate banking, leasing, asset management, security broking and treasury banking functions.