Axis Bank has entered into a memorandum of understanding with South Korea’s NongHyup Bank (NH Bank) to enhance cooperation in treasury, trade and other businesses. The bank said the MoU is intended to reinforce trade and economic relationships between South Korea and India, and will promote mutual development through business cooperation. . This is the sixth bank in Asia that Axis Bank has tied up to provide what is says better and convenient service to its retail and corporate customers. Earlier this year, it has concluded an agreement with China Development Bank to support the corporate clients of the banks for their banking requirements in India and China. It also has tie-ups with Singapore’s DBS Bank, Saudi Arabia’s Samba Financial Group and Bank Albilad, and Malaysia’s Maybank, for remittances to India. NH Bank is one of the largest banks in South Korea with an asset base of $185 billion.
