02 August, 2010

Yes Bank, HDIB in tie-up for i-banking

Private lender, Yes Bank, has entered into a co-operation agreement with South Korea's Hana Daetoo Investment Bank (HDIB) to advice companies in cross-border deals.The alliance will leverage on each of the partners' strong local knowledge and corporate relationships to open-up mergers and acquisitions joint ventures, equity raising and merchant banking opportunities, Yes Bank said in a statement today.

HDIB is the i-banking arm of Hana Financial Group, a leading financial group serving corporates and retail clients in Korea. "We look forward to further explore opportunities for cross-border investment and trade (through the agreement)," Yes Bank's Founder and Managing Director, Rana Kapoor, said.

The Governments of India and South Korea, both emerging economies, have set a target to double bilateral trade to USD 30-billion per year by 2014 and have already signed an agreement towards this goal.