XACBANK HAS SIGNED A TRADE FINANCING AGREEMENT WITH SMBC BANK OF JAPAN
In an effort to increase trade finance cooperation, XacBank, one of the leading banks in Mongolia, has signed an agreement with Japan’s Sumitomo Mitsui Banking Corporation to open a credit line of USD 5 million. Mr. D. Bat-Ochir, CEO of XacBank and officials representing Sumitomo led by Mr. Hiromitsu Yoshizawa, Head of International Trade Finance Department and Mr. Kazuo Yoshimura, Senior Deputy of the International Trade Finance Department signed the agreement.
XacBank initiated cooperation with Sumitomo Mitsui Banking Corporation in 2005 by establishing a correspondent relationship, and during the past 8 years we have had successful cooperation in the areas of international settlements, letters of credit and trade finance.
