A correspondent account is an account established by a banking institution to receive deposits from, make payments on behalf of, or handle other financial transactions for another financial institution. Correspondent accounts are established through bilateral agreements between the two banks.
Correspondent bank refers to a bank that is a depository for another bank and which performs various banking services for it. They are usually most useful for import-export transactions and generating foreign exchange.
The following are lists of our major correspondent banks:Correspondent Banks
|No||Name of the Bank||Country||City||Swift Code/BIC|
|1||Bank of Africa||Djibouti||Djibouti||MRINDJJD|
|3||Citibank NA.||USA||New York||CITIUS33|
|4||Commerz Bank AG||Germany||Frankfurt||COBADEFF|
|5||DZ Bank AG Frankfurt||Germany||Frankfurt||GENODEFF|
|6||Intesa Sanpaolo SPA||Italy||Milan||BCITITMM|
|7||Uni credit SPA||Italy||Milan||UNCRITMM|