YES BANK, India’s fourth largest private sector Bank and Shinsei Bank, Limited, (“Shinsei Bank”) announced today that the two banks have signed a comprehensive business alliance to co-operate on information-sharing and business development, syndications, lending, investment banking, trade finance, remittances, treasury operations among other areas.
The two banks had signed a memorandum of understanding on a business alliance in the Japan-India cross-border M&A business in November 2010. By expanding the scope of the alliance to cover a broader range of businesses, YES Bank will further strengthen its support framework for Japanese institutional customers looking to enter the Indian market, at the same time supporting Indian clients focusing on Japan related businesses.
The alliance will play an active role towards further augmenting trade and investment flows in the key Indo-Japan corridor. With this tie-up, YES BANK and Shinsei Bank will be able to leverage their combined expertise, strong local knowledge and excellent corporate relationships to open up Investment Banking, Corporate Banking, Trade Finance & Remittance opportunities for their respective clients.
Speaking on the development, Dr. Rana Kapoor, Founder, Managing Director & CEO, YES BANK said, “The India-Japan corridor for trade & investments has undergone significant & qualitative shifts in recent years, propelled through strategic partnerships between the two countries that include several high visibility flagship projects such as the DMIC and Dedicated Freight Corridor.
This alliance with Japan’s Shinsei Bank furthers our commitment towards this business corridor. Through our knowledge banking initiatives and advisory services, we look forward to exploring further opportunities for cross–border trade and investment. I am confident that this partnership will enable us to provide enhanced banking support and economic and business intelligence to Japanese and Indian corporations seeking business opportunities in either of the countries.”