YES Bank (YESBANK) received a license to commence operations in May 2004. Mr Ashok Kapoor and Mr Rana Kapoor, have promoted the bank. YES Bank is a private sector bank which offers a range of banking products and financial services that include corporate and institutional banking, financial markets, investment banking, business and transactional banking, retail and private banking business lines across the country. It entered into a strategic alliance with CII` Sohrabji Godrej Green Business Centre to implement the New Ventures India Portfolio. Retail banking and wealth management business of the bank focuses on banking and wealth management of individuals. Yes Bank has 60 branch licenses by the Reserve Bank of India.
The bank has positioned itself as a bank with corporate and institutional focus and for affluent sections in the personal banking segment. YESBANK has adopted the globally recognized Six Sigma and ISO service standards. This is the first license given by RBI for a greenfield project in the banking sector in the past 10 years. Apart from Rabo bank, other investors include CitiCorp, Chrys Capital and AIF capital. The bank comprises of four practice areas: food and agribusiness strategic advisory and research (FASAR), strategic initiatives, agri, micro and rural banking, and corporate social responsibility and sustainability initiatives (CSRSI).
YES Bank has managed to maintain a zero NPA portfolio and plans to focus on mortgages and loans against shares and personal loans. It also focusses on generating fee income from third party distribution and by mobilising low cost deposits. The bank has maintained its capital adequacy ratio at 16.43%. Corporate advances comprised 70% of the total advances, while medium and small segments totalled 30%. The bank had no retail advances as of Jan. 2006. Yes Bank has several tie ups with companies like Gartner, i-Flex, Murex and Cash Tech. It has entered Uttaranchal to tap the potential of floriculture sector. The bank has been asked to act as an advisor to the State Industrial Development Corporation of Uttaranchal. YESBANK is headquartered at Mumbai, India. Financials The company disclosed rise of 45.24% in standalone net profit on y-o-y basis to Rs 2.03 billion, while total income rose 70.89% y-o-y basis to Rs 14.09 billion for the quarter ended March 2011.
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