Private sector lender, Yes Bank, plans to raise around Rs 500 crore by September as Tier-II capital and around $200 million in its Tier-I structure through an equity issuance, a top bank official said.
"We are planning to raise about Rs 500-crore of hybrid Tier I as well as lower Tier II capital over the next 3-4 months," Yes Bank's Chief Executive Officer & Managing Director Rana Kapoor told reporters on the sidelines of a press meet here.
The bank's capital adequacy is at a level of 16.6 per cent. "We have a fair amount of Tier II capital raising capacity including perpetual capital, which we intend to tap between July and October," Kapoor said.
The bank also plans to raise up to $200 million in its Tier-I capital structure by end of fiscal 2010, depending on the price prevailing at that particular point of time. This fund-raising can be through fresh equity, follow-on public offer or a private placement," he said.
Kapoor pointed out that the objective of fund-raising through equity is to ensure sustained growth for the bank.
Replying to a query on whether Rabo Bank would dilute its stake, Kapoor said that all stakeholders would dilute their stakes proportionately.
As per the shareholding pattern, Indian promoters hold 32 per cent, Rabo Bank 18 per cent while Khazana, HSBC and Global Orient each hold 4.9 per cent, Templeton 5 per cent, retail investors 12-13 per cent and domestic mutual funds and insurance companies hold 5-6 per cent in the Bank.
Meanwhile, Yes Bank and First Data, a global leader in electronic commerce and payment processing services, today signed a Memorandum of Understanding (MoU) for an innovative automated teller machines (ATM) deployment programme.
Yes Bank and First Data will jointly establish a widespread network of ATMs across various cities in India.
As per MoU, First Data will leverage its extensive ATM capabilities to support Yes Bank in identifying new ATM locations and delivering, installation and field management services including 24X7 monitoring and vendor management.
Yes Bank plans to expand its network to 500 ATMs by 2010, 1,500 by 2012 and over 3,000 ATMs by 2015, Kapoor said, adding that this will be fully in consonance with Yes Bank's branch banking roll-out strategy to achieve 250 branches by end 2010, 400 branches by 2012 and 750 branches by 2015.
The pilot phase of the programme will begin in August 2009 in Mumbai and Delhi, followed by other cities across India. Yes Bank currently has 117 fully operational branches and 93 offsite ATMs across 92 locations in the country, as well as two national operating centres in Mumbai and Gurgaon.
