Correspondent Bank

Aya bank was licensed by the central bank of myanmar on 2 july 2010 and relicensed under the financial institutions law 2016 as a full service universal bank.

Correspondent bank. The bank has grown rapidly over the past seven years to become the second largest in the country with 234 branches 1 4m customer kyat 4 7 trillion customer deposits and 150 billion shareholders equity as at the end of. A correspondent bank is a financial institution that provides services on behalf of another equal or unequal financial institution. Correspondent banks are important for clients receiving payments in foreign currency.

Name and address of the main branches of bank of china in the mainland. Name address postage code swift code phone number. Correspondent banks and intermediary banks both serve as third party banks and are used by beneficiary banks to facilitate international.

As your correspondent banking partner we offer you the full range of our business expertise service offerings and experience of. 313 mid changjiang road hefei 230061 anhui province china. A little more on what is a correspondent bank.

The name and bic of seb correspondent bank form a part of the requisite information to be forwarded to your partner. This allows foreign banks to conduct business and provide services to their clients without the expense of a physical presence. He wants to purchase parts from a supplier in mexico.

Correspondent banking is an agreement between two banks whereby one bank correspondent bank carries on representative services such as maintaining deposits offering settlements etc for another bank respondent bank. A correspondent account is an account often called a nostro or vostro account established by a banking institution to receive deposits from make payments on behalf of or handle other financial transactions for another financial institution. List of main correspondent banks of seb pank.

It can facilitate wire transfers conduct. Correspondent accounts are established through bilateral agreements between the two banks. A correspondent bank is selected based on the payment currency.