SBI opens its first branch in South Korea
Branch was inaugurated by B. Sriram, Managing Director, SBI.
The branch is expected to play an important role in strengthening economic partnership between Korean and Indian companies.
The branch shall offer a range of services to corporates in trade finance, bilateral and syndicated loans, and corporate deposits among others.
The branch shall also reach out to retail customers through offerings of savings and current account facilities, term deposits and remittances.
SBI said in a statement that its’s decision to open a branch in Seoul follows from the continuous and significant increase in trade following the Comprehensive Economic Partnership Agreement which was signed between Korea and India in 2009.
Speaking on the occasion, B. Sriram, Managing Director, SBI, said, “Our extensive experience in supporting Indian corporates in their foreign endeavors and global corporates in their expansion into India as well as in other markets shall be the primary value proposition for our business relationships in Korea.”
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