Yes Bank is searching to develop deposits to Rs 2 lakh crore by the finish of this fiscal year. It is searching to win more than the retail buyer with a suite of service offerings.
The private lender on Tuesday unveiled the revamped ‘Yes Premia’ that gives personalised options for customer segments. Personalised options will be offered to customer segments ranging from compact company owners to salaried experts and senior citizens.
The bank aims to raise the share of retail, and micro, compact and medium enterprises (MSME) to 60% of the loan book, compared to 45% at present. The bank also aims to attain a deposit base of Rs 2 lakh crore by March, 2021.
Rajan Pental, worldwide head, retail banking, Yes Bank, mentioned that bank aimed to raise its deposits book to Rs 2 lakh crore by the finish of March this fiscal year. The lender had a deposit base of Rs 1.35 lakh crore till September 2020. The lender is also preparing to expand its retail and SME loan book to Rs 10,000 crore in the third quarter from Rs 6,800 crore in the September quarter.
Pental mentioned that the bank has received restricted requests for restructuring retail loans ever considering the fact that the moratorium was lifted in August. The general restructuring request was not far more than Rs 200 crore, he mentioned.
With its new revamped solution supplying for retail, Yes Bank is searching at establishing a really differentiated bank, with very best-in-class technologies and innovation capabilities as cornerstones to drive important scale in the retail banking company.
Pental mentioned that the worth addition from the enhanced programme offerings and fascinating rewards would provide a premium buyer practical experience that was tailored to their life style.
For salaried consumers, Yes Premia will present complimentary emerge debit card with rewards worth more than Rs 50,000, preferential pricing on locker, trading account and loan specifications, amongst other rewards. Similarly, the bank will present curated existing accounts to suit company specifications for self employed consumers. The bank has also promised wide variety of fixed deposits with greater interest price and overdraft facility for senior citizens.