Yes Bank gets RBI nod to open offices in London, Singapore

New Delhi: Private sector lender Yes Bank on Friday said it has received Reserve Bank of India's (RBI) approval to open two representative offices in London and Singapore.

"This is a significant development in the overall augmentation of Yes Bank's business model and will help in further diversification and expansion of financial services to the NRI diaspora," Yes Bank MD and CEO Rana Kapoor said.

"Opening of representative offices in key financial and trade hubs...gives us an effective coverage for most key global geographies and demonstrates our commitment to grow our footprint in the international banking space," he added.

Yes Bank opened its first representative office in Abu Dhabi in April 2015 and also launched IFSC banking unit (IBU) at GIFT City, Gandhinagar, in the same year.