The fourth largest private sector bank in India, YES BANK, is set to open two representative offices in London and Singapore after receiving permission from Reserve Bank of India (RBI) to cater to the NON Resident Indian (NRI) population. YES BANK is venturing into international territory to expand services after a first representative office in Abu Dhabi in April 2015.
According to Mr. Rana Kapoor, MD & CEO, YES BANK:
“This is a significant development in the overall augmentation of YES BANK’s business model and will help in further diversification & expansion of financial services to the NRI diaspora. Opening of Representative Offices in key financial and trade hubs like London and Singapore, in addition to our existing office in Abu Dhabi, gives us an effective coverage for most key global geographies and demonstrates our commitment to grow our footprint in the international banking space. The two New Global Financial and Technology HUBs would also act as a perfect platform for servicing YES BANK’s existing global client base in addition to providing networking coverage for the Bank’s large investor community in these parts of the world.”
As both Singapore and London act as financial centers, YES BANK is establishing offices in both cities and is providing Global Indian Banking program which comprises of innovative best-in-class services like:
- YES First and YES Private Wealth management Programme
- Best-in-class Interest Rates on NRE/NRO Savings Account and deposits
- Foreign Currency Fixed Deposit (FCNR)
- Premium Rupee plan for higher yield on deposits
- Dedicated Virtual Relationship Manager
- Portfolio Investment Scheme (PIS) to transact in the Indian Secondary Market
Singapore is a key financial hub in South East Asia and for capital market – debt and equity and provides deep USD funding capabilities. Numerous Multinational Corporations (MNCs) have established Regional Head-Offices in Singapore, and the country also hosts over 6,000 Indian companies that have taken advantage of the Singapore launch-pad for trade in South East Asia.
YES BANK’s three representative offices also support global MNC as well as Indian origin global entities for International Corporate Banking, Commercial Banking and Corporate Finance requirements.
About YES BANK
Headquartered in India, YES BANK is the fourth largest private bank in India with 1100 branches across all 29 states and 7 Union Territories of India. YES BANK offers deposits, personal loans, e-banking, trade finance, corporate and business banking services and it serves the food and agribusiness, life sciences, healthcare, biotechnology, telecommunications, media, information technology and infrastructure development industries.