Yes Bank opens representative office in Abu Dhabi
Mumbai: Private sector Yes Bank today launched a representative office in UAE, which marks the maiden foray into international operations for the 12-year-old lender.
The representative office is located in UAE’s capital Abu Dhabi and is aimed at serving the diaspora population, it said in a statement.
It will offer NRE and NRO savings account and deposits, foreign currency fixed deposit, portfolio investment scheme to transact in the Indian secondary market and also its wealth management products.
All the major banks from the country have presence abroad, which is generally centred around serving the diaspora and requirements of trade.
Yes Bank had last week announced that it will be opening a branch at the international finance centre at GIFT City Ahmedabad, which is treated as an international branch.