Yes Bank, India-based new age private sector lender, has informed that it has inked a loan pact with DEG, one of Europe’s major development finance institutions. Under the terms of the pact, Yes Bank will take 5 year loan of EUR 20 million from DEG.

The sources informed that the loan will be used for further on-lending to conglomerates in the Small & Medium Enterprises (SME) sector.

Sources added that Yes Bank has opened a dedicated Business Banking unit known as Yes business that provides services to the SME sector, driven by its unparalleled knowledge banking approach, backed by a team of experts, along with a suite of products, services as well as resources.

Functionaries of Yes Bank stated that the bank offers all the service necessities to SMEs across various product segments like fund based lending, cash management, payment solutions, direct banking, trade services as well as advisory through a robust branch network of 90 branches across significant SME clusters.  

At present, Yes Bank is having 123 operational branches spread across 97 locations in the country with two national operating centres in Mumbai and Gurgaon.

Shares of the bank declined Rs 0.5, or 0.24%, to settle at Rs 208.60. The total volume of shares traded was 546,435 on Bombay Stock Exchange (BSE) (Friday).