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| Sunday, 7 April 2002 |
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HNB signs up to promote Indo-Lanka trade The Hatton National Bank (HNB) has entered into a Memorandum of Understanding (MoU) with the Export-Import Bank of India (EXIM). The MoU was signed in Mumbai recently by HNB Deputy General Manager International Rajendra Theagarajah and S.R. Rao Chief General Manager for EXIM Bank. Commenting on the agreement Mr. Theagarajah said: "The EXIM Bank of India with a resource base of 74 billion Indian rupees is focused on facilitating the export competitiveness of Indian businesses. With the implementation of the Indo-Lanka Free Trade Agreement we see an increasing role played by the Indian EXIM bank as a catalyst in the process of information dissemination, export financing, advisory services, investment and joint venture facilitation. The MoU with HNB will greatly enhance this process as our extensive islandwide branch network, well-developed trade and corporate banking capability combined with our Rs. 100 billion asset base can be leveraged to service the bilateral trade flow between both nations". Among the range of EXIM Bank services HNB will actively market and promote are export credit financing, buyer credit and direct equity participation in Indian joint ventures in Sri Lanka (by EXIM Bank). HNB recently entered into a similar MoU with the EXIM Bank of Thailand and will explore opportunities for further strategic alliances in 2002. |
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