Yes Bank aims to disburse retail and small business loans worth Rs.10,000 crore in the current quarter of the financial year. It plans to expand the portfolio to over 60 percent of its loan books by 2023, said a top official.
“By 2023, we aim to double the retail and MSME assets as well as liability book. Following the road map to become a truly digital retail bank, we are innovating constantly to meet these evolving needs of our retail customers and MSME clients across the spectrum,” Rajan Pental, Global Head (retail banking) at Yes Bank, said during a virtual conference, as reported by PTI.
Rajan added that Yes Bank aims to grow its retail and MSME business, and hence the bank disbursed loans worth Rs.6,800 crore to retail and MSME segments in the second quarter ended September 30. “We are targeting a fresh disbursal of around Rs.10,000 crore in the current quarter” adding further that this loan disbursal is a sizeable growth in the overall business and “interestingly higher than our lifetime numbers in the best of the times the bank has seen in the past”.
Currently Yes Bank aims to open over 1 lakh fresh accounts every month by leveraging technology
Yes Bank has been witnessing a consistent growth in deposit in the first two quarters of the current financial year with substantial contribution coming from both retail and corporate, he said.
Currently Yes Bank aims to open over 1 lakh fresh accounts every month by leveraging technology, he said adding that it expects this trend to continue in the coming quarters. Rajan further added, “By 2023, we aim to increase our retail and MSME book to 60 percent of the total loan book from the current 45 percent”.
Yes Bank has also re-energized Yes Premia, unveiling a premium banking program that offers personalized solutions focused on the particular needs of key consumer segments, including small business owners to salaried professionals and senior citizens. The bank also divulged about the revamped ‘YES Premia’ premium banking program that offers personalized solutions focused on the particular needs of key consumer segments.
“We believe that the value addition from the enhanced program offerings and exciting rewards will deliver a premium customer experience – in a way that is tailored to their preferred lifestyle,” he said.