May 2010
Yes Bank has drawn up an aggressive expansion plan over the next five years. The bank aims to grow its advances to Rs 100,000 crore from Rs 22,193 crore now and deposits to Rs 125,000 crore from Rs 26,798 crore by 2015. During this time, its branch network will also be increased from 150 to 750 while the ATM network will go up to 3,000. The employee base of the bank will also go up from 3,034 to 12,000 by 2013.
“We are on a strong growth path. Even during the financial crisis, we managed to grow at 80 per cent in our advances. Over the past six years since inception, we have leveraged on creative management framework, innovation and cutting edge technology ensuring simultaneously a development focus in our uncompromising pursuit to emerge as professionals’ bank of India,” Yes Bank managing director Rana Kapoor said.
The business mix of the bank is also going to change from being wholly corporate to being a mix of retail, commercial banking and corporate. About 90 per cent of the bank’s advances are in corporate banking.
“Now the business mix of the bank would be in the ratio of 40:30:30 where corporate advances were 40 per cent, 30 per cent each from commercial banking and retail banking. We have a headroom to raise Rs 1,500 crore of hybrid capital in both tier II and tier I structures. We will be tapping this route as we will have to enhance our reserves before interest rates begin to harden,” said Kapoor.
Life Insurance Company (LIC) has raised its stake from 0.3 per cent a few months back to 1.5 per cent now with an investment of Rs 70 crore to Rs 100 crore.
“We are on a strong growth path. Even during the financial crisis, we managed to grow at 80 per cent in our advances. Over the past six years since inception, we have leveraged on creative management framework, innovation and cutting edge technology ensuring simultaneously a development focus in our uncompromising pursuit to emerge as professionals’ bank of India,” Yes Bank managing director Rana Kapoor said.
The business mix of the bank is also going to change from being wholly corporate to being a mix of retail, commercial banking and corporate. About 90 per cent of the bank’s advances are in corporate banking.
“Now the business mix of the bank would be in the ratio of 40:30:30 where corporate advances were 40 per cent, 30 per cent each from commercial banking and retail banking. We have a headroom to raise Rs 1,500 crore of hybrid capital in both tier II and tier I structures. We will be tapping this route as we will have to enhance our reserves before interest rates begin to harden,” said Kapoor.
Life Insurance Company (LIC) has raised its stake from 0.3 per cent a few months back to 1.5 per cent now with an investment of Rs 70 crore to Rs 100 crore.
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