Mumbai: Private Sector lender Yes Bank and Santander UK announced that they have signed a memorandum of understanding (MoU) to help boost UK-India trade and local business networking opportunities.
Through the new partnership, Santander will be able to offer its clients access to banking facilities and local support in India through Yes Bank’s network, while Yes Bank’s customers will gain access to the range of financial and practical support that Santander offers businesses looking to trade internationally.
The new arrangement is one of a series that Santander has in place around the world to help boost international trade links.
It further supports its ambition to work in partnership with UK businesses to help them achieve their ambitions and expand into new markets.
As well as being able to support businesses locally through a network of Corporate Business Centres and specialists in the UK, the bank has a strong international presence thanks to its extensive global network in 10 major markets and more than 12,000 branches worldwide and a network of international alliance partners.
To help boost trade across the globe, Santander has an International Desk in each of the markets it operates in, dedicated to helping customers, who want to grow their business overseas.
India is fast becoming a key export market for UK businesses. Eight out of 12 UK regions saw an increase in exports to India, with Scotland experiencing the largest growth at 165 per cent, closely followed by Northern Ireland at 96.5 per cent and strong growth was also seen in the North East, South East and East Midlands.