Uttar Pradesh, India (PressExposure) June 17, 2009 -- Yes Bank, the new age private sector lender has signed a pact with a Finnish firm named Lahti Science and Business Park in order to offer investment banking services to Indian as well as Finnish companies.
The President of Yes Bank's Corporate Finance and Development Bank Group, Somak Ghosh said that the alliance has discovered 4 technical Finnish firms for establishing tie up with Indian firms. He said that Yes Bank would be providing funds to 2 out of these 4 projects.
Ghosh added that the bank has identified 4 companies for starting operations in the joint venture and is currently, in communication process with them. The bank is looking forward to funding at least 2 projects in which the financing would amount Rs.150 to Rs.200 crore per company.
Lahti Science is the company assigned by Finnish government in order to coordinate with Finnish Cleantech for working in the direction of enhancing the growth of SMEs in Finland by globalising their business.
Ghosh added that according to the alliance, Yes Bank would provide the fund raising services to Indian and Finnish companies.
About 48% of total income is contributed by the fee based income of Yes Bank and half of this is contributed by corporate advisory service. The bank operates its services with total 117 branches in 92 cities in all over India.