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ADCB strengthens ties with Kookmin Bank.

Abu Dhabi Commercial Bank (ADCB) and Kookmin Bank (KB) have signed a partnership agreement on 26 September 2012 to provide integrated comprehensive financing solutions for clients of both banks and for enhancement of trade flows between the institutions.

The MOU aims to help supporting and financing the significant growing trade flows of capital and goods between the two countries, and underscores the importance of the UAE as a trade partner for South Korea.

As a part of the MOU, Kookmin Bank and ADCB will be able to foster a strategic partnership to provide greater services to South Korean exporters and investors in the UAE and pave the way for greater mutual collaboration in enhancing inter-linkages between the two countries.

Commenting on the agreement, Ala'a Eraiqat, Chief Executive Officer, ADCB said, "The partnership with Kookmin Bank marks only the beginning of our long term partnership together. ADCB is delighted with this collaboration and is looking forward to providing comprehensive financing support to both UAE and Korean companies who trade between two countries. South Korean firms have played a vital role in the progress of the UAE economy, benefiting both countries considerably. ADCB is committed to the development of the Abu Dhabi economy and the UAE overall. Through this initiative we want to play an even greater role in bringing together domestic and international companies."

The MOU will enable clients of both banks to benefit from two very strong financially liquid banks with large balance sheets who have invested heavily in their trade business. Each bank has deep expertise and knowledge in trade finance and is highly connected in its market and is well-recognised by both corporate and government communities.

Chan-Keun Lee, Senior Executive Vice President Of Corporate & Inves

2012 CPI Financial. All rights reserved.

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Publication:CPI Financial
Geographic Code:7UNIT
Date:Oct 6, 2012
Words:301
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