Axis Bank signs MoU with NongHyup Bank, South Korea

MUMBAI, India - Nov. 7, 2014 - PRLog -- The MoU was signed by Mr. Sidharth Rath, President - Treasury, Business Banking & Capital Markets, Axis Bank & Mr. Lee, Jeong Mo, Executive Vice President, Corporate Banking Division, at a ceremony organised in Mumbai. The MoU seeks to reinforce trade and economic relationships between South Korea and India, and will promote mutual development through business cooperation.

Commenting on the occasion, Mr. Rath, said, "Indo – Korea trade partnership is growing at a robust pace. Korean Companies are increasingly becoming a part of India’s economic growth. Axis Bank is happy to be associated with NongHyup Bank and this MoU will go a long way in cementing the relationship between both banks. This partnership would act as a bridge between customers of two banks.”

Axis Bank has focussed in leveraging trade and economic relationships with banks in other geographies, for providing better and convenient service to its retail and corporate customers. Earlier this financial year, the bank had tied up with China Development Bank (CDB), one of the largest policy banks in China, to support the corporate clients of the banks for their banking requirements in India and China. The bank has also joined hands with DBS Bank (Singapore), Samba Financial Group, Bank Albilad (Saudi Arabia), and Maybank of Malaysia, for money remittances to India.

About Axis Bank

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

With its 2,505 domestic branches (including extension counters) and 13,146 ATMs across the country, as on 30^th September 2014, the network of Axis Bank spreads across 1,686 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.