Thrissur (Kerala), July 31 - Kerala-based South Indian Bank (SIB) is close to signing a partnership agreement with a major commercial bank in Qatar, a senior SIB official said Friday.

Talks on the agreement are fast progressing and the deal would be announced shortly, the official told IANS on condition of anonymity as he was not authorised to speak on the matter.

'Once we are through with the deal, which is expected to happen any time now, banking would be a pleasurable exercise for our customers. It would be cooperation agreement between the two banks,' he added.

The pact would help the Thrissur-headquartered lender penetrate into the large Keralite community living in Qatar, he said.

According to a study by the Thiruvananthapuram-based Centre for Development Studies (CDS), around 100,000 Keralites are living in Qatar.