Page 12 - Yes Bank

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

"We would aim to improve the overall ratio of current account savings account (CASA) deposits further. There is a huge opportunity available there," Prashant Kumar said

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

Yes Bank is targeting a credit growth of 15% to 20% for fiscal 2024

India to have 87% EVs by 2047 with policy boost: FICCI-YES Bank report

For cost alleviation and investment drive, the report suggests demand incentives till significant xEV penetration and emissions-based taxation, while also creating credit pathways for financing xEVs

CBI files case against IL&FS Transportation Network for defrauding 19 banks

The fraud done by IL&FS Transportation Network Ltd (ITNL) and its directors came to light in 2018 after the National Company Law Tribunal (NCLT) appointed a new board of directors

YES Bank brand makeover: Spending on advertising activities to surge 30%

The bank launched a tweak in its logo

Yes Bank plans to increase advertisement spend by 30% in FY24: Official

Yes Bank is planning to up the ante on marketing and will be spending 30 per cent higher on advertising activities in FY24, a senior official said on Tuesday. Without sharing the amount it will be spending, chief marketing officer Nipun Kaushal said the bank was tactical in its spending in the last two years as it got the house in order after being bailed out by peers. In FY24, its advertising spends will be 30 per cent higher than in the previous year, Kaushal told reporters here on the sidelines of a bank event, adding that the exact spends can vary because the rates can differ at the time of booking properties. The bank's retail franchise has achieved a critical scale and it is at an inflection point now, its executive director Rajan Pental said, adding that the profitability will go higher from here. Kaushal said the marketing campaign which it is embarking on from June 20 and which will last till end of the fiscal year with a long tail of digital advertising efforts, is design

JC Flowers ARC makes claim on Subhash Chandra's no-compete fees

ARC says no-compete fees received from Sony should be used to repay local debt

DHFL money laundering case: HC denies bail to Yes Bank founder Rana Kapoor

The Bombay High Court on Thursday refused to grant bail to Yes Bank founder Rana Kapoor in connection with the DHFL money laundering case, noting that he was one of main accused in the case and he faced a "serious charge" of having laundered public money. A single bench of Justice P D Naik in its order said Kapoor misused his official position to gain undue financial benefit for himself, his family members and associates. "He (Kapoor) is involved in bribery, corruption and money laundering activities. The proceeds of crime (POC) involved in this case are to the extent of Rs 5,333 crore. It is alleged that applicant had siphoned off huge amounts of POC out of India through his family group owned/controlled companies," the HC said. It added that around Rs 378 crore have been invested overseas and investigation in this is still on. The bench said it cannot ignore Kapoor's role in the crime, the magnitude and seriousness of the crime. "The allegations against the applicant is that the

Reliance General to accept e-Rupee through Yes Bank for premium payments

Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India's (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's eRupee platform, a statement said. Customers who have an active e-wallet with any bank can scan Reliance General Insurance's eRupee QR code to make immediate payment, it said. With this pioneering launch, the company is presenting its customers with an easy, safe, instant and green payment solution, and taking its promise of providing excellent customer experience to the next level. eRupee is a digital token that is equivalent to a banknote i.e. legal tender, and is a sovereign currency backed by the RBI, it noted. Being digital, eRupee removes all the issues of handling physical cash and offers the same anonymity as a banknote, it said. Moreover, it sa

YES Bank eyes MFI acquisition for rural expansion, plans 150 new branches

Several banks have taken the MFI acquisition route as such transactions give them an opportunity to scale up operations in the rural and semi-urban markets

Banks, Wipro lift indices in fag-end; Sensex up 401 pts, Nifty tops 17,700

CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports

Stocks to watch: RIL, ICICI Bank, YES Bank, Hindustan Zinc, Sun Pharma

Stocks to watch today: From Reliance Industries to ICICI Bank, here are top stocks to watch in Monday's trading session

YES Bank's Q4 net declines 45% to Rs 202.4 cr on higher provisions

The non-interest income was up 22.8 per cent to Rs 1,082 crore, and was led by core fee income, especially the one coming from retail side

Stocks to Watch: Dmart, Tata Steel, HeroMoto, Nykaa, Equitas SFB, Godrej CP

Stocks to Watch: Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme for its staff to make the organisation agile

Yes Bank records credit growth of 11% Rs 2.01 trn in March quarter

Yes Bank on Wednesday said it has reported a credit growth of 11.3 per cent at Rs 2.01 lakh crore for the March 2023 quarter. The outstanding credit was Rs 1.81 lakh crore at the end of March 31, 2022, Yes Bank said in a regulatory filing. The lender registered a 12.9 per cent growth in deposits excluding Certificate of Deposits (CDs). Another private sector lender Karnataka Bank posted a 6.1 per cent increase in total loans to Rs 61,326 crore, while deposits grew by 8.69 per cent to Rs 87,362 crore. As a conscious business decision and a course correction measure, the bank has not emphasised on large corporate lending due to low yields and highly competitive rates in this segment, which would have adversely impacted the NIM, Karnataka Bank said in a statement. This is reflected in the fact that the share of large corporates to gross advances has dropped by about 3 per cent as on March 2023 (provisional) vis--vis December 2022, it said.

Rana Kapoor gets bail in loan diversion; to stay in jail on multiple cases

A special PMLA court here on Saturday granted bail to Yes Bank co-promoter Rana Kapoor in a money laundering case linked to the alleged diversion of bank loan fund worth Rs 200 crore. Kapoor, however, won't walk out of prison as he is accused in multiple cases, including alleged fraud at Yes Bank. He was granted bail by special PMLA judge M G Deshpande. A detailed order is not available yet. Kapoor, 63, has been lodged in a Mumbai jail since March 2020 after he was arrested by the Enforcement Directorate in connection with alleged financial irregularities and purported kickbacks paid to him and his family members in return for certain dubious loans provided by Yes Bank to some high-profile borrowers. The case, in which he was granted bail on Saturday pertains to Rs 200 crore loan granted to Mackstar Marketing Pvt Ltd by Yes Bank. Kapoor's role in the sanction of this loan is under the scanner. Mackstar is a joint venture promoted by Ocean Deity Investments Holdings Ltd. (ODIL), a

YES Bank shares in focus with SC likely to hear appeal in AT1 bond matter

If top court rules in favour of bondholders, Yes Bank shares could see a selloff as its capital base gets eroded, impeding its growth prospects; other banks, especially PSBs, may be impacted too

What are AT1 bonds, and why are Credit Suisse's worth $17 bn now wiped out?

The wipeout of $17 billion worth of AT1 bonds in the UBS-Credit Suisse deal has spooked investors as they now assess if this can happen to their AT1 holdings in other banks as well

Delhi HC seeks Centre, RBI & SEBI response on Swamy's plea on Yes Bank

The Delhi High Court on Friday sought response of the Centre, Reserve Bank of India (RBI) and Securities Exchange Board of India (SEBI) on former Rajya Sabha MP Subramanian Swamy's plea

TMS Ep389: Repo rate hike, HUL CEO Rohit Jawa, YES Bank, contagion risk

Are we heading for another repo rate hike? What challenges does the new HUL MD & CEO face? Has YES Bank turned the corner? What is contagion risk? All answers here