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Biz News Korea(Eng)
KDB signs partnership with State Bank of India
- Collected
- 2016.08.12
- Distributed
- 2016.08.16
- Source
- Go Direct
(From left) KDB vice chairman Kim Young-mo, KDB chairman Lee Dong-geol and SBI chairman Arundhati Bhattacharya (Photo by KDB)
The signing ceremony was held in Mumbai, India last Wednesday.
Under the MOU, a Korea Desk will be installed in the Indian bank, offering service in syndicated loans, project financing, trade finance and derivatives business.
SBI, the India’s largest bank with a history of more than 200 years, has a track record as the country’s top syndicated loan and PF loan provider.
“The Korea Desk will be a bridge to entering the Indian market and help us expand our global network as we plan to support Korean companies in India and establish business with local blue chips,” a KDB official said.
The partnership is part of KDB’s efforts to expand its global footprint under “Global KDB” since its chairman Lee Dong-geol took office early this year. The bank decided to allocate $1.7 billion to help Korean companies garner orders overseas this year.
By Noh Seung-hwan
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