According to the deal, Dewan Housing Finance Corporation will facilitate distribution of home loans to all YES Bank customers. During the first phase, the joint product will target the customers in the 60 main branches of the bank across 25 cities in the country.
Commenting on the development, Mr. Rana Kapoor, Founder, Managing Director & CEO, YES Bank, reported that the company is privileged to collaborate with a leading housing finance group. He said that as DHFL has a very strong network, the bank will benefit from it and will be able to deliver best-in-class home loan offerings to its customers across the country.
Commenting on the association, Mr. Kapil Wadhawan, Chairman & Managing Director, DHFL reported, "This tie-up helps both the entities to leverage their individual strengths. This association will further boost the DHFL network and will help reach out to the customers of YES Bank Limited for home loan products".
YES Bank operates with 214 branches across 164 cities in India and has more than 250 ATMs and two National Operating Centres located in Mumbai and Gurgaon.
DHFL had also signed similar strategic alliances with three leading Public Sector banks, which includes Punjab & Sind bank, United Bank of India and Central Bank of India.