BoB inks MoU with KBFG

To create In-Ko Finance Corridor, Digital Payment Ecosystem
Report by: 
12 Jul 2018

Bank of Baroda signed a Memorandum of Understanding (MoU) with KB Financial Group Inc. (KBFG), Korea, for comprehensive business cooperation between the two organisations to establish In-Ko financing corridor and development of innovative digital payment eco-system.
The MoU was signed during India-Korea Business Forum on 9th July 2018 by P S Jayakumar, MD&CEO, Bank of Baroda and Yoon Jong-kyu, Chairman, KB Financial Group in the presence of Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation, Govt of India.
Mr Jayakumar said, “Through this engagement, Bank of Baroda and KB Financial Group will work together on creating a new digital payments ecosystem in India and creating In-Ko corridor for providing reciprocal financial services to Corporate and Retail Clients of Bank of Baroda and KB Financial Group. We are committed to work jointly with KB Financial Group by leveraging the potential synergies generated between Bank of Baroda’s diverse domestic network and KB’s business relations with Korean Conglomerates.”