Sri Lanka has the potential to be an international financial hub and India’s Axis Bank is here to explore this full potential, its officials say.“We are here to get a head start in that process," Parthasarathi Mukherjee President - Treasury and International Banking told the Business Times on the sidelines of a media conference to launch their Sri Lanka branch on Friday.
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| Dr Adarsh Kishore |
He added that they are bullish on financing large infrastructure projects here and will explore listing them in the share market in the long run. He also said that debt syndication and investment banking (their niche areas) are what Axis will concentrate on developing here. He said financing ports, airport, power, roads, metros, etc are on their radar.
Axis aims to assist Sri Lankan businesses with international business as the bank also has branches in Singapore, Hong Kong, Dubai and representative offices in Shanghai and Abu Dhabi. “Axis’ Sri Lankan business will focus on the opportunities arising in Sri Lanka in trade and other areas. The bank further looks forward to participating in small and medium enterprises/ agriculture, retail banking, infrastructure projects and remittances,” Dr Adarsh Kishore, Chairman Axis said. He also said that with its presence in the major financial hubs in Asia, the bank is in a position to complement the business aspirations emanating from Sri Lanka both in respect of domestic business as well as international trade and investment, while participating in and contributing meaningfully in the economic growth of the country.
He also said that the region’s growing integration with the global economy offers opportunities to leverage the Axis’ strengths and further extend access to overseas markets.
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