- Introduces New Consumer Products incl. Loan Against Property (LAP), Loan Against Shares (LAS), Auto Loans & Commercial Vehicle Loans
- Supported by over 300 state-of-the-art branches pan-India
- To complete consumer assets product suite by March’12
YES BANK, India’s new age private sector bank has charted out accelerated plans for robust Retail Banking growth, which includes the launch of a suite of new Retail Assets products incl. Loan Against Property (LAP), Loan Against Shares (LAS), Auto Loans & Commercial Vehicles, besides significant acceleration of Working Capital for Micro and Small Enterprises in its identified Knowledge/ Industry segments. YES BANK has also entered into strategic tie-ups with Industry leaders to distribute products like Housing Loans and Gold Loans, which are integral to their consumer asset product offerings.
As part of its Version 2.0 strategy, YES BANK has been steadily entering into various Retail Banking segments, and with the current introduction of this wide suite of products , the Bank is well on-course to complete the entire Consumer Assets suite by March 2012. The current roll-out of new products will be effectively supported by over 300 branches of YES BANK pan-India, and will be further fortified, as the Bank scales up to 750 Branches by March 2015.
Speaking on this development, Dr. Rana Kapoor, Founder, Managing Director & CEO said, “I truly believe that the new Retail products will bring sharpened focus, greater vigour and velocity in our offerings to our valued customers. These will be significant in tapping tremendous synergies across all parts of the Bank as also in providing an external manifestation of our unique ‘One-Bank Approach’ with the objective of creating a consistent customer experience. I am confident that these will be key growth and value drivers towards the success of the vision of Version 2.0.”
YES BANK has a stated objective of developing knowledge-based comprehensive product management, catering to 360 degrees of the retail customers’ business requirements, which is critical for effective Relationship Management & overall customer profitability. The Retail Assets business, as in the case of all other Relationship and Product functions within the Bank, will also optimize the manifold opportunities for growing the Liability, Cash Management and Trade Finance/FX businesses of YES BANK, with the pre-dominant objective of increasing YES BANK’s CASA to at least 30% by 2015.
Manavjeet Singh, Senior President and Business Head - Retail Banking further emphasized, “We are adopting counter cyclical strategies to enter these new businesses. Our focus will be on building a highly granular portfolio of primarily secured products across all Metros, Tier I & select Tier II towns with tight controls on product design, process, systems and execution. We are firmly on target to build a Rs 15,000 crore book, with equal liability spin-offs by 2015”.
As a part of Version 2.0 Vision & Strategy, YES BANK will focus on completing the Consumer Banking portfolio, further expanding and galvanizing the Branch Banking Franchise, and building Scalability & Granularity in its Liability and Transaction Banking Businesses through leveraging multi-pronged Branch Banking strategies.
