New Delhi: Yes Bank bank has received Reserve Bank of India's (RBI) approval to open two representative offices in London and Singapore.
The expansion comes on the back of Yes Bank's first representative office in Abu Dhabi, followed by another office in GIFT City in Gandhinagar.
“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.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," Rana Kapoor, MD & CEO, Yes BanK, said.
Singapore is a key financial hub in South East Asia and for capital market - debt and equity and provides deep USD funding capabilities.
Yes Bank's London outreach will complement the bank's Asia strategy. Yes Bank will provide services for differentiated investment needs of the Indian diaspora in London and Singapore through its flagship Global Indian Banking program. In addition, these 3 International Representative offices collectively will support Yes Bank's global MNC as well as Indian origin global entities for International Corporate Banking, Commercial Banking and Corporate Finance requirements, the company said in a statement.