YES Bank, an associate of SBI, is working to disburse Rs 10,000 crore of loans to MSMEs and retail segments in the current quarter (Q3)
Private sector lender YES Bank
aims to double its retail plus small and medium (SME) assets and liabilities book by the end of calendar year 2023.
The lender expects to grow the combined share of retail and SME in business (deposits and advances) to 60 per cent by March 2023. Its retail assets were Rs 39,550 crore and deposits Rs 42,300 crore. SME assets were about Rs 19,539 crore.
Rajan Pental, head, retail banking, YES Bank, said the bank will not show any irrational exuberance to grow business. “We would like to be present in segments which customers want rather than in what we want to sell. The growth strategy will be tailored to regional requirements. The bank is focusing on scaling up business through 1,106 branches and dealers, OEMs and bancassurance partners,” said Pental.
YES Bank, an associate of SBI, is working to disburse Rs 10,000 crore of loans to MSMEs and retail segments in the current quarter (Q3). It is targeting to disburse between Rs 5,500 crore and Rs 6,000 crore on the retail side and around Rs 3,500-4,000 crore to MSMEs. Its advances stood at Rs 1.67 trillion at the end of September 2020. On the liabilities side, deposits were at Rs 1.35 trillion at the end of September 2020.
It aims to reach a deposit base of Rs 2 trillion by March-end. YES Bank
is working to increase the share of retail — especially low cost savings and current account — in total deposit base. It is working to open 0.1 million new accounts per month (for loans) by February-March. The run rate of opening accounts was 70,000 in October. It opened 0.15 million accounts in Q2.
The share of corporate term deposits was 44 per cent as of September 2020. It has gone up from 36 per cent as of March. It was 40 per cent as of June.