Kotak Mahindra Bank signs MoU with Business France

Kotak Mahindra Bank Ltd (KMBL) today announced that it has entered into a Memorandum of Understanding (MoU) with Business France, the French national agency in charge of the development of exports and international investments in France, to support companies in the Indo-French corridor and promote business and the start-up ecosystem in India and France.

Business France fosters export growth by French businesses, facilitating international investment

The signing ceremony was chaired by Eric Fajole, Regional Director, French Embassy in India and Ms. Sudha Balakrishnan, Business Head, MNC Banking Group, Kotak Mahindra Bank in France. It also promotes French companies (mainly mid-sized), business image and nationwide attractiveness as an investment location.

Manish Kothari, President & Business Head, Corporate Banking (Large Corporates, MNC, SME, New Age Cos & CBS), Kotak Mahindra Bank said, "Kotak Mahindra Bank will be the first Indian bank to have signed a MoU with Business France. This tie-up will bolster relationships between India and France by interconnecting the ecosystems of both countries to create most favourable conditions, for increased reciprocal business opportunities. Business France has a good network with Midcorp companies from France and we see good opportunity to on-board subsidiaries via this tie-up."

Objectives of the MoU:

• To promote business and start-up ecosystem cooperation and identify business and investment opportunities in India and France.
• Kotak Mahindra Bank will be amongst Business France's privileged Indian banking partner for French companies.
• Business France will accompany Kotak Mahindra Bank's Indian clients in their entry in France.
• To collaborate for knowledge roundtables organized by Business France India and be exclusive Knowledge or Banking Partner for select events.
• To provide sector expertise through speaker representation and/or knowledge publications such as whitepapers, presentations etc.

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1819.25 as compared to the previous close of Rs. 1761.35. The total number of shares traded during the day was 113537 in over 8005 trades.

The stock hit an intraday high of Rs. 1827.00 and intraday low of 1783.65. The net turnover during the day was Rs. 205852078.00.

Source : Equity Bulls

Keywords

KotakMahindraBank INE237A01028 MoU BusinessFrance IndoFrenchCorridor