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The Hatton National Bank (HNB) entered into a Memorandum of Understanding (MoU) with the Export-Import Bank of India (EXIM) recently. The MoU was signed in Mumbai by Rajendra Theagarajah DGM International for HNB and S. R. Rao, Chief General Manager for EXIM Bank, a press release from the Hatton National Bank said.

Commenting on the MoU, Mr. Theagarajah said: "The Exim Bank of India with a Resource base of approx Indian Rs. 74 billion is focussed on facilitating the export competitiveness of Indian businesses. With the implementation of the Indo-Lanka Free Trade Agreement, (FTA) we see an increasing role played by the Indian EXIM bank in acting as an important catalyst in the process of Information dissemination, Export financing, Advisory services and Investment/ Joint venture facilitation among other areas."

The MoU with HNB will greatly enhance this process as the 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, he said.

Among the range of EXIM Bank services, HNB will actively market and promote 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, the release said. 

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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