Axis Bank today signed a Memorandum of Understanding (MoU) with China Development Bank (CDB), one of the largest policy banks in China. The MoU would help Axis Bank to support its corporate clients by funding them at competitive pricing. It will give the Bank an opportunity to work closely with Chinese companies in facilitating them in their domestic requirements in India.
V Srinivasan, executive director - Corporate Banking, Axis Bank said, "Indo-China trade partnership is growing at a robust pace. We at Axis Bank are excited to sign MoU with China Development Bank to tap newer business opportunities, emerging from the world's second largest economy. Axis Bank's presence in Shanghai and its wide reach in India will help in providing an end-to-end solution to both Indian and Chinese corporates."
Early this year, as a part of adding value to the banking services in China, Axis Bank opened its Shanghai Branch. The Shanghai branch is engaged in offering various services including accepting public deposits, offering short-to-long-term loans, and comprehensive corporate banking services.
