The largest lender of the country, State Bank of India has laid plans of increasing its branch network in Bangladesh, informed an official of the bank.

The bank has revealed that it aims to set up two new branches in Bangladesh by the end of the upcoming year.

The lender's expansion plans do not stand still even after credit rating agency Moody's downgraded its rating some time back.

"We have recently got two licences and have opened two branches at Rajshahi and Khulna, expanding from the two earlier branches - Dhaka and Chittagong," SBI chairman Pratip Chaudhuri said.

"The Bangladesh government assured us that the moment we roll them out (two branches at Rajshahi and Khulna) and once they stabilise, two more licences will be given. We are expecting all together six branches in Bangladesh in one year's time, that is, by December 2012," he said.