ICICI, YES Bank ink deal with Exim Bank of Malaysia
India’s private lenders, ICICI Bank and YES Bank, on Thursday signed a collaborative deal with the Export-Import Bank of Malaysia Berhad (Exim Bank) to enhance trade, especially palm oil, between the two countries.
Through this deal, Exim Bank, a development financial institution, wholly owned by Malaysia’s Ministry of Finance, will provide credit lines to ICICI Bank and YES Bank to facilitate import of goods from the South-East Asian nation.
“We have entered into a $100-million master facility agreement to facilitate the ongoing trade and finance transactions between YES Bank and its importing customers. This will play an active role towards further augmenting trade flows in the Indo-Malaysia corridor by arranging overseas trade credit for Indian importers," YES Bank said.