YES Bank has launched a representative office in Abu Dhabi to offer services for investment needs of the Indian nationals in the Gulf state. This is the bank’s first foray into international banking. Rana Kapoor, MD and CEO of the bank, said in a statement that the Gulf Cooperation Council region is an important geography for its NRI business and its Gulf foray will play a key role in our aspiration to become the ‘Savings Bank of India’. He added that the opening of the first international office showcases the company’s commitment to grow its footprint in the international banking space. The bank 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.
