Private sector lender YES Bank said on Monday it has raised $150 million from International Finance Corporation (IFC), Washington a member of the World Bank Group, for tenure of up to 7 years.
The loan will be used by the bank to scale up its small and medium enterprise loan portfolio, the bank said in a release to the BSE. The package to the bank includes $45 mn provided through IFC's new co-lending programme in addition to IFC's own account loan of $60 mn, both for a period of seven years and another $45 mn syndicated loan provided by Intesa Santapaolo, Bank Muscat, Doha Bank and AKA Frankfurt for a tenure of two years. The bank has swapped the loan with RBI through the concessional swap window ooffered to banks.
Stock of YES Bank rose 2.43 per cent higher to Rs 379.45 on the BSE on Monday.