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| Yes Bank in pact with Finnish firm for cross border deals |
| Press Trust of India / Mumbai Jun 09, 2009, 16:28 IST |
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New-age private sector lender, Yes Bank has entered into an agreement with Finnish firm, Lahti Science and Business Park to provide investment banking services to Indian and Finnish companies.
The alliance has identified four Finnish firms in the area of clean technology for tie-up with Indian firms. Yes Bank is likely to fund two of these four projects, Yes Bank's Corporate Finance and Development Banking Group president, Somak Ghosh said.
"We have identified four companies for joint venture operations and is currently talking to them. The bank will look at the possibility of funding two out of the four projects. The financing will be in the range of Rs 150-200 crores per company," Ghosh said.
Lahti Science has been mandated by the Finnish Government as the coordinator of Finnish Cleantech clusters and is aimed at enhancing the growth of SMEs in Finland by helping them internationalise their business, Ghosh said.
Yes Bank will provide services on M&As, technology transfer, joint venture advisory and fund raising to Indian and Finnish companies under the alliance, Ghosh said.
Fee-based income contributes around 48 per cent of Yes Bank's total revenue, half of which originates from the corporate advisory service, Ghosh said. The bank has 117 operational branches across 92 cities in the country.
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