Yes Bank raises Rs 865 cr

Private sector lender Yes Bank plans to raise over Rs 1,500 crore in FY 11 for its expansion and has already mopped up over half of the target, a top bank official said.

"Our total fund raising would be over Rs 1,500 crore this year and we have already raised Rs 865 crore," Chief Executive Officer and Managing Director Rana Kapoor told reporters on the sidelines of a conference organised by Ficci and IBA here today.

The entire amount raised is for the bank's capital needs and it is not looking at an equity infusion, he said.
    
"We had an equity infusion recently and I do not think there is any additional requirement for equity in the next 12-18 months," he said.
    
The Rs 865-crore already raised are hybrid tier-I and upper tier-II capital, Kapoor said, adding the bank will raise another Rs 500 crore in lower tier-II capital by the end of next month.
    
Kapoor said the prospects are good for the economy and expects a drop in the non-performing assets going forward. "Even sectors like textiles are doing good," he said.
    
On the aviation sector, he said, "we do not have much exposure to this sector. But aviation is not a bad sector if you leave aside two or three operators. The low-cost airlines are especially good and are already performing at the pre-crisis levels. We have minimal exposure to the sector," he said.