Editorial

Yes Bank recognised for its key contribution in supporting a dynamic trade finance ecosystem as it wins Best Trade Finance Bank in India at The Asian Banker Transaction Awards Programme 2019

By The Asian Banker

  • A strong trade finance franchise supported by stellar annual financial performance
  • Addressing working capital pain points for a large trader client which caters to Engineering, Procurement and Construction (EPC) contractors
  • Leading innovations that contribute significantly to India’s dynamic trade finance ecosystem

Bangkok, May 30th, 2019 — Yes Bank received the award for Best Trade Finance Bank in India at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.



In the picture: Mathew Welch and Bill Chua; International Resource Directors, Siddharth Chandani, Researcher; The Asian Banker with Munindra Verma; Head Trade & Cash Product Management, Transaction Banking Group and Team; Yes Bank

A strong trade finance franchise supported by stellar annual financial performance

With strategic focus on delivering highly customised trade finance solutions to grow relationships across Government, SMEs and large & mid-sized corporates, the bank posted a significant performance for its trade business. Trade business in absolute terms grew 27% while volumes surpassed the growth rate of more than 70%. An incremental increase in revenue growth in mid-higher double digits was supported by a healthy combination of Trade Fee, Net Interest Income and FX. Significant financial leverage coupled with bank’s ability to support digitalisation needs of SME’s helped it capture more than 70% of wallet share for SME’s.

Addressing working capital pain points for a large trader client which caters to Engineering, Procurement and Construction (EPC) contractors

Key understanding of customer’s business requirements helps the bank in leapfrogging product innovation that matches client’s business objectives. The bank successfully implemented a structured trade credit deal wherein the client, a large trader supplying different products to EPC contractors was looking to close the working capital gap in terms of credit period. Through the bank’s solution, a structured transferable Direct Credit (DC) entailing issuance by ultimate buyer (90 days tenor) while same DC being transferred to supplier for a reduced tenor of 60 days, was made possible by bank’s ability to open a Master DC, thereby reducing the mismatch of credit period. This unique structured solution of reducing the tenor of master DC to accommodate the requirement of trader is an industry first, seamlessly executed by Yes Bank.

Leading innovations that contribute significantly to India’s dynamic trade finance ecosystem

Consistently innovating and adopting to suit digital India’s evolving needs, Yes Bank is the first in domestic space to implement an electronic export (paperless) solution by partnering with Bolero. This first-of-its-kind solution reduced the TAT of cash collection from franchise for a well-established non-infrastructure logistics company from 10 days to real-time. Trade solutions powered by Artificial Intelligence (AI) and Robotics has helped the bank handle bulky volume of trade transactions and straight through transaction processing. Use of API technology in dealer financing strengthened the delivery of its customised platform-driven solutions. With this, the bank has demonstrated ability to cater large supply chain partners and e-commerce players.

The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php.

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.

To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com



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