SBI and Korea Development Bank join hands for business opportunities::
State bank of India (SBI), Country’s largest public sector enterprise, and Korea Development Bank (KDB) have signed an MOU to develop business synergies in the domains of corporate finance, project finance and asset finance. The MOU was signed between SBI chairman Arundhati Bhattacharya, and chairman and CEO of Korea Development Bank, Lee Dong Geol.
The SBI statement indicated, ‘the Asset finance comprises trade finance, capital markets, cash management products, infrastructure/real estate financing, syndicated loans, securitization, derivatives, financial advisory services, risk management and acquisition finance’.
The proposed credit lines from Korea Development Bank will help SBI to offer competitive terms for facilitating bilateral business. KDB is providing funding facility to SBI through credit lines as per terms agreed between the two banks. The funds may be utilized for money market, trade finance and loans to Korean companies generating business in the country.
Read More @ http://mcrworld.com/sbi-and-korea-development-bank/
