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SBI inks $500 million LoC with Korea Eximbank

29 Sep 2014 Evaluate

Country’s largest lender State Bank of India (SBI) has signed a line of credit (LoC) of $500 million with Export-Import Bank of Korea (Korea Eximbank). This line will be in addition to LoC of $200 million signed between the two institutions on January 16, 2014 to support Indian companies importing goods and services from Korea. This signing is a step towards further strengthening of Korea-India strategic partnership.

The LoC can be utilised to finance SBI’s clients in India and its neighbouring countries having business relationships either by way of equity participation or regular trade with Korean companies globally, as well as joint ventures or subsidiaries of Korean companies.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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