Close

Press Release

YES BANK Receives Approval for Setting up of IFSC Banking Unit in GIFT City

Mumbai, July 14, 2015: YES BANK, India’s 5th largest private sector Bank, has received approval from the Reserve Bank of India to set up IFSC Banking Units (IBUs) in Gujarat International Finance Tec City (GIFT).

Establishing the IBU will propel YES BANK’s growth plans further by providing it access to International financial markets, as well as provide a comprehensive product suite to its corporate clients requiring Foreign Currency (FCY) funding. It will also allow YES BANK to raise FCY funding through MTNs & other routes as appropriate.

Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “This is a significant development in the overall augmentation of YES BANK’s business model and will help in further diversification and expansion of cross border asset products as well as widen the scope and depth of our liabilities base. The opening of an IBU will also boost YES BANK’s Cross Border Trade offerings, External Commercial Borrowings, Foreign Currency syndications and offshore M&A, funding business additionally. This is another step forward towards realizing our vision of “Building the Finest Quality Bank of the World in India by 2020. Towards the foregoing, YES BANK has already made preliminary efforts towards identifying premises for commencing operations at GIFT City.”

YES BANK had recently opened its First International Representative office in Abu Dhabi, UAE in April 2015.

About YES BANK

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

For further information, please contact:

YES BANK
Amit Shah
Ph.: +91 22 33479242
Email: amit.shah1@yesbank.in

Adfactors PR
Jyothi Goswami
Ph.: +91 22 67574444
Email: jyothi@adfactorspr.com

YES BANK
Jitesh Patel
Ph.: +91 22 3347 9753, +91 9820813570
Email: jitesh.patel@yesbank.in

download app
Android App for YES BANK

Download App

You will shortly receive a SMS from us at the mentioned Mobile no. by you. This SMS contains an App download link.
Please try after Some time.
App Store for YES BANK

Download App

You will shortly receive a SMS from us at the mentioned Mobile no. by you. This SMS contains an App download link.
Please try after Some time
yes pay wallet

Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more

Read More