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ICICI Bank to get LC from Korean Eximbank

iciciICICI Bank has signed an agreement for $200 million Line of Credit with The Export-Import Bank of Korea (Korea Eximbank). With this, the total volume of credit lines between the two institutions has reached $1 billion, making it Korea Eximbank’s single largest credit line relationship with any partner bank. This new Line of Credit would be availed by ICICI Bank through its Hong Kong branch, and can be utilized to finance its corporate clients having business relationships with Korean companies globally as well as joint ventures or subsidiaries of Korean companies. The agreement was signed by Murali Ramakrishnan, chief executive of ICICI Bank’s Hong Kong branch and regional head for its North Asia, Sri Lanka, Middle East and Africa operations, and Kim Yong-Hwan, chairman and president of Korea Eximbank, during the state visit of the president of South Korea to India.

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