Yes Bank has planned to seal loan selling deal with HDFC

By Pradeep Yuvaraj | May 29, 2011

A recent press report said that Yes Bank is on a spree of partnering with non-bank lenders catering to different segments and is in the “final stages” of tying up with mortgage lender HDFC.

Managing Director and Chief Executive Mr.Rana Kapoor, YES bank, said that the bank has signed an alliance with Dewan Housing for certain housing loans of a certain denomination, adding that the bank is already engaging with potential partners in equipment loans and micro loans which are “not necessarily” microfinance.

He added saying that Yes Bank will be looking for partners in the commercial vehicle financing space, and that the bank is better off being a distributor rather than a manufacturer.  He said that the under any kind of tie-ups, the bank has a risk- sharing arrangement with the partner which can be either 50:50 or vary. He also said that loan processing is done by the partner.

Reports said that the seven-year-old bank is also targeting to open a wholesale banking branch in the Dubai International Finance Centre (DIFC) to help Indian corporate clients and a representative office in the United Arab Emirates to serve non-resident Indians. The bank offers home loan, personal loan, business loan etc

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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