Axis Bank Ltd.

Axis Bank has entered into an agreement with Saudi Arabia's Samba Financial Group to offer remittance services from the Middle Eastern country to India.

As per the agreement, Samba Financial will facilitate the remittance of money to India via Axis Bank accounts or through about 78,000 branches of more than 100 other banks in India with National Electronic Funds Transfer-enabled facilities. This will be facilitated through Samba’s product for remittances, Speed Cash.

Samba Financial Group has an asset base of about $50 billion and a network of about 65 branches and 35 remittance centers spread across Saudi Arabia.

Axis Bank, the third largest private sector bank in India offers the entire spectrum of services to customer segments covering large and mid-Corporates, SME, agriculture and retail businesses.