State Bank of India and Spanish bank CaixaBank have entered into a MoU to enhance business synergies between the them and undertake projects in a collaborative manner. The MoU outlines a plan between the two banks to expand the banks’ guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises. The banks will also cooperate through introduction of business opportunities and partnering on possible infrastructure funds. An agreement, signed by CaixaBank’s executive vice president, International Banking, Victoria Matia, and SBI’s CGM Sujit Kumar Varma, establishes the framework to collaborate in areas of mutual interest including syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services among others. The two banks will gain direct access to their respective markets of operation and their clients will be able to use the vast combined network to expand their businesses abroad. CaixaBank has a representative office in Delhi.
