Indian and Japanese banks form alliance
India’s Yes Bank and Japan’s Shinsei Bank have signed an alliance to co-operate in various business areas, including trade finance.
Under the agreement, the two banks will also share information and combine their expertise for business development, syndications, lending, investment banking, remittances and treasury operations, increasing trade and investment flows in the India-Japan corridor.
Rana Kapoor, founder, managing director and CEO of Yes Bank, says: “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.”
Yes Bank and Shinsei signed a memorandum of understanding to promote collaboration in November 2010.