Yes Bank gears up to lure SMEs & wealth managers in 2008...
“Rana combines exemplary vision and execution. He is the one who can make things happen. I really had an enriching experience working with him,” says Pankaj Karna, now Partner & Head (M&As), Grant Thornton, who was a close associate of Rana Kapoor at Rabo India. A plethora of Kapoor’s experience in financial services, both in India and globally, has percolated to the foundation of Yes Bank, where he’s Founder/Director and CEO. His expertise has acted as a damp-proof coating that has protected its financial integrity. Prior to establishing Yes Bank, Kapoor was the CEO & MD, at Rabo India Finance (corporate finance) and was perhaps the first banker in India to give shape to India’s first successful leverage buyout of Tata Tea & Tetley.
Yes, we finally got our pick in the banking sector and it is ‘Yes bank’. The fact that it is the only Greenfield licence awarded by the RBI in the last 12 years, is testimony to the above-mentioned facts about Kapoor. Both depositors and stock punters consider Yes bank as their favourite pick in 2007 and they all seem confident that the bank will proliferate in the year to come as well. “The bank is targeting to open 250 branches by March 2010. The bank has licenses to roll out 56 additional branches in FY’08. In the second half of 2008-09, after it has a customer base of about five lakh, it would embark on the credit card business. For its expansion strategy, it has identified eight regions, within which it has carved out 40 clusters. Every cluster will have a hub branch, which will be the main bastion for that cluster,” says Dolly Parmar, Research Associate, Jaypee Capital Services. “Since Yes Bank is the newest addition to the Indian private banking sector, it has relatively small asset size compared to established peers, but has maintained a growth momentum that’s higher than its peers, proven aggressive management with strong execution skills, has a strong fee income profile and clean asset portfolio,” adds Abhishek Agarwal, Research Analyst at Religare Securities.
When contacted Yes Bank refused to divulge plans for the FY’09, but CEO Kapoor while talking to 4Ps B&M said that “we are focused on growing all parts of the bank; however, developing our Business Banking - SME group and Retail Banking Wealth Management business group will be the key focus areas for FY’08.”
“Rana combines exemplary vision and execution. He is the one who can make things happen. I really had an enriching experience working with him,” says Pankaj Karna, now Partner & Head (M&As), Grant Thornton, who was a close associate of Rana Kapoor at Rabo India. A plethora of Kapoor’s experience in financial services, both in India and globally, has percolated to the foundation of Yes Bank, where he’s Founder/Director and CEO. His expertise has acted as a damp-proof coating that has protected its financial integrity. Prior to establishing Yes Bank, Kapoor was the CEO & MD, at Rabo India Finance (corporate finance) and was perhaps the first banker in India to give shape to India’s first successful leverage buyout of Tata Tea & Tetley.
Yes, we finally got our pick in the banking sector and it is ‘Yes bank’. The fact that it is the only Greenfield licence awarded by the RBI in the last 12 years, is testimony to the above-mentioned facts about Kapoor. Both depositors and stock punters consider Yes bank as their favourite pick in 2007 and they all seem confident that the bank will proliferate in the year to come as well. “The bank is targeting to open 250 branches by March 2010. The bank has licenses to roll out 56 additional branches in FY’08. In the second half of 2008-09, after it has a customer base of about five lakh, it would embark on the credit card business. For its expansion strategy, it has identified eight regions, within which it has carved out 40 clusters. Every cluster will have a hub branch, which will be the main bastion for that cluster,” says Dolly Parmar, Research Associate, Jaypee Capital Services. “Since Yes Bank is the newest addition to the Indian private banking sector, it has relatively small asset size compared to established peers, but has maintained a growth momentum that’s higher than its peers, proven aggressive management with strong execution skills, has a strong fee income profile and clean asset portfolio,” adds Abhishek Agarwal, Research Analyst at Religare Securities.
When contacted Yes Bank refused to divulge plans for the FY’09, but CEO Kapoor while talking to 4Ps B&M said that “we are focused on growing all parts of the bank; however, developing our Business Banking - SME group and Retail Banking Wealth Management business group will be the key focus areas for FY’08.”
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Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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