About
Yes Bank Limited is an Indian Private Sector Bank headquartered in Mumbai, India and was founded by Rana Kapoor and Ashok Kapur in 2004. It offers a large range of banking and financial products and services for corporate and retail customers through its retail banking and asset management services.
Yes Bank is now owned by State Bank of India who recently bought a 30% stake in the company as of 28 July 2020 as a part of the rescue. Banks like ICICI and HDFC also invested in Yes Bank to infuse fresh operating capital.
Listing and Revenue
YES Bank is listed on both BSE and NSE.
| Revenue | ₹10,247 crore |
| Operating Income | ₹3,518 crore |
| Net Income | ₹-16,418 crore |
| Total Assets | ₹2,57,827 crore |
Products and Services
Yes Bank offers various financial products and services such as Personal Loan, Credit Card, Business Loan, Home Loan, Gold Loan, Car Loan, Debit Card, Savings Account, and Fixed Deposits. Yes Bank Personal Loan offers its customers up to Rs. 40 lakhs within the tenure of 1 to 5 years starting at 10.75% to satisfy your financial liabilities. Yes Bank offers Home Loan to purchase a home, renovating home, top-up loan and even balance transfer. Yes Bank Home Loan provides a high loan amount at a competitive interest rate starting from 9.60% for a tenure of 35 years. For a better savings experience, Yes Bank offers Savings Account where you can save your hard earned money and earn interest against it.
History
Yes Bank Ltd was established on November 21 2003 and started its operations from January 21 2004.
It started its retail banking operations in 2005 by launching International Silver and Gold debit cards. The cards were launched in partner with MasterCard International. Yes Bank released its public issue in June 2005.
Bank launched 18 offsite ATMs and 50 new banking branches in 2008-09. It added 33 more new branches in the year 2009-10. Year 2010-11 saw Yes Bank opening 64 new branches in India. The bank was operating 214 branches across 164 cities of India in March 2011.
Acquisition
On 3 March 2016 Yes Bank acquired 5 lakh equity shares of Institutional Investor Advisory Services (IiAS) from the BSE. The shares were equivalent to 5.006% of the paid-up capital of IiAS.
Yes Bank also acquired 8.97 crore equity shares constituting 17.31% of the paid-up share capital of Fortis Healthcare Limited in 2018.
Awards and Recognition
Yes Bank bagged Corporate Dossier award from Economic Times 2005. Bank won Financial Express Awards for India's Best Banks in 2006. In 2008, Yes Bank was ranked as the No 1 Emerging Markets Sustainable Bank of the Year-Asia at the FT/IFC Washington Sustainable Banking Awards in London. It was also ranked as the number 1 Bank in the Business Today-KPMG Best Banks Annual Survey of 2008.
Subsidiaries
On 27 July 2016, Yes Bank got an in-principle approval from the Securities & Exchange Board of India (SEBI) to sponsor a mutual fund and to setup an Asset Management Company (AMC) and a Trustee Company. The AMC and the Trust Company was set up as a wholly owned subsidiaries of Yes Bank.