EmerioBanque

HDFC Bank Signs Agreement With Export Import Bank Of Korea For $300 Million Credit Line

India's leading private sector banks, HDFC Bank has recently contracted a significant agreement with the KEXIM (Export Import Bank of Korea) to save a $300 million credit line. Aims of the agreement is to reinforce trade and economic relations between South Korea and India and simplify funding opportunities for businesses functioning in both nations.

The agreement of credit line was signed by HDFC Bank Managing Director, Mr. Aditya Puri and President and Chairman of KEXIM, Mr. Lee Duk-hoon, throughout a virtual ceremony. This collaboration marks a significant milestone for HDFC Bank, as it further expands its global network and enhances its capacity to support trade finance requirements.

The $300 million credit line provided by KEXIM will enable HDFC Bank to offer financial assistance to Indian companies engaged in imports from South Korea. The facility of credit will mainly focus on supporting different sectors like electronics, automobiles, renewable energy, and infrastructure that have seen substantial development and demand in these years.

This planned partnership between KEXIM and HDFC Bank will not just provide the required financial enhancement to Indian businesses but even foster greater collaboration between the two countries. The particular credit line will play an important role in encouraging bilateral trade and investment flows by noticing the financing demands of Indian importers and promoting exports of South Korean.

Recommended Read: South Korea Adds Back Japan To Its 'White List' On Trade

Also, the association is expected to support economic ties between South Korea and India, leading to improved opportunities for the expansion of business and technology exchange. Also, it will contribute to the overall development and growth of both nations, making a conducive atmosphere for further investment and trade cooperation.

HDFC Bank has a good history of supporting Indian businesses in different sectors through its strong trade economics offerings. By leveraging the credit line from KEXIM, the bank aims to extend its support to a wider range of businesses engaged in South Korean imports, enabling them to access affordable and timely financing solutions.

The agreement with KEXIM is in line with HDFC Bank's commitment to fostering global partnerships and facilitating international trade. With its extensive network and expertise in trade finance, HDFC Bank is well-positioned to drive economic growth and facilitate cross-border transactions, providing a significant boost to India's import sector and overall trade ecosystem.





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

19 Sep

Free Trade Agreements: A Path to Prosperity and Cooperation

Free Trade Agreements usually are the formal pacts which are between the two or other countries to e...

14 Sep

India's G20 Legacy: A Comprehensive Assessment of Achievements

India's G20 presidency, an important international forum, has gained praise for its capacity to brin...

08 Sep

Kickstarting The Global Economy – How Financing Can Help

If we talk about the global economy then it has experienced its share of fluctuations, but the recen...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.