Yes Bank clarifies rumours of forex derivative exposure

New Delhi, Mar 19 (UNI) Yes Bank today quashed rumourrs on its foreign exchange derivatives exposure and its implications on the bank's operations, claiming them as 'unfounded'.

In a notice to the stock exchanges, the Bank has reiterated that it has no uncovered exposure in the foreign exchange derivatives business and it is consistently meeting all its maturing financial obligations.

It also clarified that it has a highly qualified top management and treasury team responsible for its foreign exchange risk portfolio with highly robust risk management and mitigation systems, processes and controls embedded within the bank.

The bank currently has 60 operational branches and is in the process of launching 57 additional branches, taking the total licensed network to 117.

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