Yes Bank to open office in London, Singapore

In-line with the banks international expansion plan, Yes Bank receives RBI approval to open two representative branches in London and Singapore. The bank has an office in Abu Dhabi.

Yes Bank international operations are designed to target the Indian diaspora living in and around these prominent global cities. Bank will provided financial services for personal and international business segment catering to the NRI population living in these cities. The bank Abu Dhabi office was launched in 2015.

Yes Bank will provide the banks flagship Global Indian Banking Program services through these international representative offices, which includes private wealth management program, special interest rates on NRE/NRO account and deposits as well as portfolio investment scheme to operate in the Indian secondary market.

Singapore serves as a financial hub US investment firms looking to invest in India and other South Eastern nations. Over 6,000 Indian companies are operational in Singapore. Meanwhile, London will provide for the bank access to European banking networks as well as support the bank's Asia strategy.

However, during Friday's morning session, the stock of Yes Bank was quoting Rs. 313.25 per share, down 1.49 per cent. The stock was among Nifty50 top losers. While Nifty Bank was 24,952.85, down 173.30 points or 0.69 per cent.