Yes Bank aims to disburse Rs 10,000 cr retail, MSME loans in Dec quarter

"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.

He added that guided by the aim to grow its retail and MSME business, 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." Pental also said this loan disbursal of Rs 10,000 crore 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". On the deposit front, he said the bank has seen a consistent growth in the first two quarters of the current financial year with substantial contribution coming from both retail as well as corporates.

"In the first quarter, we opened close to 32,000 accounts, please remember there were very few locations that were open due to the COVID-19 outbreak. "But, in the next quarter itself, we were able to open more than 1.50 lakh accounts that brought us to the normal levels of our account opening ability in the best of the times the bank has seen," Pental said.

Yes Bank aims to open up to 1 lakh fresh accounts every month by leveraging technology, he said adding that it expects this trend to continue in the coming quarters. The improved numbers are a clear reflection of the trust and confidence that the customers have placed with the bank throughout this journey, he said. "By 2023, we aim to increase our retail and MSME book to 60 per cent of the total loan book from the current 45 per cent," Pental added. Yes Bank also re-energised Yes Premia, unveiling a premium banking program that offers personalized solutions focused on the particular needs of key consumer segments - from small business owners to salaried professionals and senior citizens.

Besides, the private sector lender unveiled the revamped 'YES Premia' premium banking programme that offers personalised solutions focused on the particular needs of key consumer segments - from small business owners to salaried professionals and senior citizens. "We believe that the value addition from the enhanced programme offerings and exciting rewards will deliver a premium customer experience — in a way that is tailored to their preferred lifestyle," Pental said while unveiling the programme.