SBoP Inks MoU with AFII for Business Facilitation

AFII and State Bank of Patiala inked an MoU on Saturday where AFII would support Structured Products development and distribution for the Bank.

New Delhi, Delhi, February 25, 2008 /India PRwire/ -- State Bank of Patiala has concluded a Memoradum of Understanding with AFII Corporate Advisors Limited, a New Delhi based Structured Finance and M&A Firm where AFII would assist the Bank in developing new Structured Products for the benefit of its customers. AFII would also, assist in promotion and implementation of such Products across India. This MoU would also benefit the Retail Finance Initiative of AFII & Ashok Leyland Limited where AFII supports the CV Customers in arranging competitive finance from Nationalised Banks.

The MoU was signed on Saturday, 22ndFebruary at Patiala by Mr. Ranjit Datta, DGMon behalf of SBoP and Dr. Mahesh Gandhi, Managing Director, on behalf of AFII. CGM-SBoP Mr. Diwakar Gupta and several other officials were also present at the signing.

AFII has been involved in Channel Financing business with State Bank of India since 2 years and in the last year has launched challenging initiatives in Retail Financing adding more value to its SME Advisory Business. AFII owns and operates India's largest SME Advisory Business providing Structured Finance and M&A support to its Clients. It works across sectors including Automotive, Power Ancilliary, Infrastructure, Logisticsand Clean Technology.

This MoU will support State Bank of Patiala's efforts to make available to its existing customers more financial products while attracting new customers to take advantage of the dynamic and sophisticated product customisation efforts of the Bank.

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