Connect with us

Hi, what are you looking for?

News

ICICI Bank, New Development Bank in MoU

ICICI Bank 1ICICI Bank has entered in a memorandum of understanding with BRICS-sponsored New Development Bank with an aim to establish a strategic partnership with it. NDB president K V Kamath and ICICI Bank MD and CEO Chanda Kochhar signed the MOU on behalf of their organizations. ICICI Bank is the first Indian bank to sign an MoU with NDB. As per the MoU, the two banks will consider each other as ‘preferred’ partners and will harness their respective resource advantages and professional expertise, to build a long-term, stable and mutually beneficial relationship in the areas of bond issuances, co-financing, treasury management and human resources.

K V Kamath said the partnership creates a platform for sharing knowledge and deepening network connectivity between the entities. He said NDB’s mandate prescribes partnering with local development banks in member countries and the MoU will enable NDB to leverage the deep market access and insight of ICICI Bank in India’s financial markets. Chanda Kochhar said the partnership will give both parties an opportunity to work together and leverage their respective strengths in the areas of resource raising, development finance and treasury risk management in a mutually beneficial manner.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.