Private sector lender Axis Bank has signed a pact with NongHyup Bank (NH Bank) to enhance cooperation in treasury, trade and other business between India and South Korea.
"The MoU, will serve to strengthen existing ties between the two banks and will help facilitate and enhance cooperation in the areas of treasury, srade and other business," Axis Bank said in a release.
The MoU aims to reinforce trade and economic relationship between South Korea and India, and will promote mutual development through business cooperation.
"Korea trade partnership is growing at a robust pace...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," said Sidharth Rath, President-Treasury, Business Banking & Capital Markets, Axis Bank in the statement.
NH Bank is one of the largest banks in South Korea with an asset base of USD 185 billion.
