Yes Bank

Yes Bank Limited is an Indian private sector bank

headquartered in Mumbai, India[7] and was founded by Rana
Yes Bank Limited
Kapoor and Ashok Kapur in 2004.[8] It offers wide range of
banking and financial products for corporate and retail customers
through retail banking and asset management services.[9] On 5
March 2020 in an attempt to avoid the collapse of the bank,
which had an excessive amount of bad loans, the Reserve Bank
of India (RBI) took control of it. RBI later reconstructed the
Type Private
board and named Prashant Kumar, former Chief financial officer
of SBI, as new MD & CEO at Yes Bank.[10] Yes Bank is owned Traded as BSE: 532648 (https://ww
by State Bank of India who has a 30% stake in the company as w.bseindia.com/stock-sh
of 28 July 2020.[11] are-price/x/y/532648/)
NSE: YESBANK (https://
www.nseindia.com/get-q
uotes/equity?symbol=Y
Contents ESBANK)

Business ISIN INE528G01035

Listings Industry Banking, Financial

services[1]
Shareholding pattern
Founded 2004
Recent developments
Founder Rana Kapoor
2020 moratorium
Ashok Kapur[2]
See also Headquarters Mumbai, Maharashtra,
References India
External links Key people Sunil Mehta
(Chairman)

Prashant Kumar
Business (MD & CEO)

Products
Yes Bank has interests in syndicated loans and corporate Credit cards
banking. It has three subsidiaries – Yes Bank, Yes Capital and Consumer banking
Yes Asset Management Services.[12] Corporate banking

As of September 2018, Yes Bank had taken syndicated loans Finance and
from eight large international entities including ADB, OPIC, insurance
European investment bank, banks in Taiwan and Japan for Mortgage loans
amounts ranging from US$30 million to US$410 million, which Private banking
it in turn lend to small and medium scale enterprises as well as Wealth management
large corporates. It has also both taken as well as given short
Investment banking
term loans to a number of retail and corporate banks in Taiwan,
Japan, the United States, and Europe.[13][14] It has partnered Revenue ₹38,008.12 crore
with the US government based OPIC and with Wells Fargo to (US$5.3 billion)[3] (2020)
support women entrepreneurs.[15] Operating ₹31,137.97 crore
income (US$4.4 billion)[3] (2020)
Yes Bank provides Unified Payments Interface (UPI) services Net income ₹−16,432.58 crore
for a number of major companies, such as Airtel, Cleartrip, (US$
RedBus, and PhonePe among others. In January 2020, it was −2.3 billion)[3] (2020)
responsible for handling 514 million UPI transactions out of the Total assets ₹257,832.16 crore
1.31 billion made that month.[16] Yes bank has acquired over 24 (US$36 billion)[4] (2020)
percent of stake in dish TV India on 30 May 2020.[17] ₹19,184.87 crore
Total equity
(US$2.7 billion)[4] (2020)
Listings Owner State Bank of India
(30%)[5]
Yes Bank has equities listed on the Bombay Stock Exchange and Number of 18,239 (2018)[6]
the National Stock Exchange of India and has bonds listed on employees
London stock exchange. Yes Bank was listed in the stock 17.0% [6]
Capital ratio
exchanges of India post its IPO in May 2005 at an issue price of
₹45.[18] Website www.yesbank.in (https://
www.yesbank.in)

Shareholding pattern
As of March 2018, as per its annual shareholder's report, the three largest shareholders of Yes Bank limited
were foreign portfolio investors (43%), insurance companies (14%), and mutual funds including UTI (10%).
[19] [20]

Smaller (less than 5%) shareholdings were owned by its three promoters [Rana Kapoor (4%), Yes Capital
(India) Pvt. Ltd. (3%), and Morgan Credits Pvt. Ltd. (3%)] and other investors including Madhu Kapur (8%),
Mags Finvest Pvt. Ltd. (2%), and LIC India under its various schemes (10%). [21] Yes Bank limited operates
under three distinct entities – Yes Bank, Yes Capital and Yes Asset Management.[22]

On March 2020, State Bank of India invested Rs 7,250 crore in the bank amid financial crisis and remains
49% stake capital owner of Yes Bank. [23] [24]

Recent developments
In September 2016, Yes Bank scrapped its proposed $1 billion share sale due to market conditions.[25] [26]
The company subsequently attempted to relaunch its failed capital raising exercise after appointing a new set
of bankers.[27]

In October 2017, the bank launched a digital wallet known as Yes Pay, integrating with BHIM and UPI.[28]
On 3 November 2017, Yes Bank signed a MoU with the government to provide ₹10 billion (US$140 million)
financing for food processing projects.[29]

2020 moratorium

On 5 March 2020, the Reserve Bank of India (RBI) announced that, in the interest of its customers and
depositors, it would suspend and supersede Yes Bank's board and impose a 30-day moratorium on its
operations. The RBI cited Yes Bank's failures to raise new funding to cover its non-performing assets,
inaccurate statements of confidence in its ability to receive new funding, and its underreporting of its non-
performing assets, among other factors, as the impetus for this moratorium. Customers are being limited from
withdrawing more than ₹50,000 (US$700) from their accounts, except in certain exceptional circumstances
(such as to cover medical care, emergencies, higher education, and "obligatory expenses" for ceremonies such
as weddings). RBI governor Shaktikanta Das stated that the matter would be resolved "swiftly"; Finance
Minister Nirmala Sitharaman announced a proposed turnaround plan, under which the State Bank of India
would take a 49% stake in Yes Bank and introduce a new board.[30][31][32][33]

On 6 March 2020, ICRA downgraded the rating of Yes Bank's ₹526 billion (US$7.4 billion) in core bonds to
a "D" rating, while Moody's downgraded them to "Caa3".[34][35] On 8 March 2020, Yes Bank founder Rana
Kapoor was arrested by the Enforcement Directorate under charges of money laundering.[36]

The moratorium caused major disruptions to e-commerce in India, due to a number of prominent services and
online stores having used Yes Bank as its payment provider for UPI. Some services using Yes Bank in tandem
with other payment providers have seen fewer disruptions.[37]

On 13 March 2020, the Union Cabinet approved the reconstruction scheme for Yes Bank and that within three
days of the notification of the scheme the moratorium would be lifted. [38] During this reconstruction, seven
investors infused 12000 crore in Yes bank and Prashant Kumar was proposed as new CEO of the bank. These
investors include State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Rakesh
Jhunjhunwala, Radhakishan Damani and Azim Premji trust. [39]

See also
Banking in India
List of banks in India
Reserve Bank of India
Indian Financial System Code
List of largest banks
List of companies of India
Make in India

References
1. Annual Report 2017–18 (https://www.yesbank.in/pdf/annualreport_2017_18_pdf). Mumbai: Yes
Bank Limited. Retrieved 14 October 2018.
2. "Late Ashok Kapur". 28 November 2008.
3. "Yes Bank Ltd. Financial Statements" (https://www.moneycontrol.com/financials/yesbank/conso
lidated-profit-lossVI/YB#YB). moneycontrol.com.
4. "Yes Bank Balance Sheet, Yes Bank Financial Statement & Accounts" (https://www.moneycont
rol.com/financials/yesbank/consolidated-balance-sheetVI/YB#YB). www.moneycontrol.com.
5. "SBI stake in YES Bank declines to 30% after FPO" (https://economictimes.indiatimes.com/mar
kets/stocks/news/sbi-stake-in-yes-bank-declines-to-30-after-fpo/articleshow/77205480.cms).
The Economic Times. Retrieved 28 July 2020.
6. "Balance Sheet 31.03.2018" (https://www.yesbank.in/pdf/annualreport_2017_18_pdf)
yesbank.in (17 March 2018).
7. "Press Release – Yes Bank" (https://www.yesbank.in/pdf/q1fy2019_20_press_release_cr_pdf).
8. "Stocks in India by Net Sales, List of Top Banks – Private Sector Stocks in India (2017) – BSE"
(http://www.moneycontrol.com/stocks/marketinfo/totassets/bse/banks-private-sector.html).
Moneycontrol.com. Retrieved 13 April 2018.
9. "Yes Bank board to meet Tuesday after RBI directive on Rana Kapoor's tenure" (https://www.liv
emint.com/Industry/EUp3Jqqaj7nAoKQ9cBpoyI/Yes-Bank-board-to-meet-Tuesday-after-RBI-dir
ective-on-Rana-K.html). Live Mint. PTI. 24 September 2018. Retrieved 29 September 2018.
10. "Yes Bank board reconstituted with appointment of 8 members" (https://in.news.yahoo.com/am
phtml/yes-bank-board-reconstituted-appointment-8-members-151648072.html). Yahoo! News.
26 March 2020. Retrieved 26 March 2020.
11. "SBI stake in YES Bank declines to 30% after FPO" (https://economictimes.indiatimes.com/mar
kets/stocks/news/sbi-stake-in-yes-bank-declines-to-30-after-fpo/articleshow/77205480.cms).
The Economic Times. Retrieved 28 July 2020.
12. "Investors conference call transcript" (https://www.yesbank.in/pdf/earnings_concall_transcript_
pdf). Official transcript. Yes bank. Retrieved 29 September 2018.
13. "OPIC Signs Loan Agreement with Yes Bank to Support Small Business Growth in India" (http
s://www.opic.gov/press-releases/2015/opic-signs-loan-agreement-yes-bank-support-small-busi
ness-growth-india). Press release. OPIC. Retrieved 29 September 2018.
14. "Investor presentaiton 2018–19" (https://www.yesbank.in/pdf/yes_bank_investors_ppt_q1fy18_
19_inr). www.yesbank.in. Yes Bank. Retrieved 29 September 2018.
15. "Yes Bank partners with OPIC and Wells Fargo to Support Financing of Women Entrepreneurs
and SMEs" (https://www.yesbank.in/media/press-releases/yes-bank-partners-with-opic-and-wel
ls-fargo-to-support-financing-of-women-entrepreneurs-and-smes). OPIC press release. OPIC.
Retrieved 29 September 2018.
16. "Yes Bank's turmoil leads to chaos in digital payments world" (https://www.newindianexpress.c
om/business/2020/mar/06/yes-banks-turmoil-leads-to-chaos-in-digital-payments-world-211320
6.html). The New Indian Express. Retrieved 6 March 2020.
17. Yes Bank acquires 24 pc stake in Dish TV post invocation of pledged shares
http://dhunt.in/9Pp5n?s=a&uu=0x4044a7605245d1e5&ss=pd Source: "The Financial Express"
via Dailyhunt
18. "YES Bank IPO: Offer & Issue Details - The Economic Times" (http://economictimes.indiatimes.
com/yes-bank-ltd/ipos/companyid-16552.cms). Economictimes.indiatimes.com. Retrieved
14 October 2017.
19. Laghate, Gaurav; Shukla, Saloni (1 June 2020). "Yes Bank may find it tough to recover Dish
promoter dues" (https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-may-find
-it-tough-to-recover-dish-promoter-dues/articleshow/76128305.cms). The Economic Times.
20. "Investor presentation 2018" (https://www.yesbank.in/pdf/yes_bank_investors_ppt_q1fy18_19_i
nr). Yes Bank official website. Yes Bank. Retrieved 29 September 2018.
21. "Share holding pattern as on 30 June 2018" (https://www.yesbank.in/pdf/shareholding_pattern_
as_on_june_30_2018). official website. Yes Bank. Retrieved 29 September 2018.
22. Annual shareholder report 2017-18 (https://www.yesbank.in/pdf/annualreport_2017_18_pdf).
Mumbai: Yes Bank. Retrieved 29 September 2018.
23. Rebello, Joel (2 June 2020). "YES Bank takes first step to share sale" (https://economictimes.in
diatimes.com/markets/stocks/news/yes-bank-takes-first-step-to-share-sale/articleshow/761602
93.cms). The Economic Times.
24. "SBI to buy YES Bank shares worth Rs 7,250 crore at Rs 10 apiece" (https://economictimes.ind
iatimes.com/markets/stocks/news/sbi-to-buy-yes-bank-shares-worth-rs-725-crore-at-rs-10-apiec
e/articleshow/74593789.cms). The Economic Times. 12 March 2020. Retrieved 12 March 2020.
25. "Yes Bank says no to share sale after scrip tanks" (http://economictimes.indiatimes.com/market
s/stocks/news/yes-bank-says-no-to-share-sale-after-scrip-tanks/articleshow/54190552.cms).
The Economic Times. 9 September 2016. Retrieved 14 October 2017.
26. "Yes Bank's opportunism is to blame for failed share sale" (http://economictimes.indiatimes.co
m/markets/stocks/news/yes-banks-opportunism-is-to-blame-for-failed-share-sale/articleshow/5
4253558.cms). The Economic Times. 10 September 2016. Retrieved 14 October 2017.
27. Anand, Samie Modak & Nupur (20 October 2016). "Yes Bank may appoint new i-banks for QIP"
(http://www.business-standard.com/article/finance/yes-bank-may-appoint-new-i-banks-for-qip-1
16102000742_1.html). Business Standard. Retrieved 14 October 2017.
28. "Yes Bank Bhim Yes Pay wallet unveiled; IndiaStack APIs and NPCI products now integrated,
see how you benefit" (http://www.financialexpress.com/money/yes-bank-bhim-yes-pay-wallet-u
nveiled-indiastack-apis-and-npci-products-now-integrated-see-how-you-benefit/912484/). The
Financial Express. 30 October 2017. Retrieved 11 April 2018.
29. "Yes Bank signs MoU with govt for Rs 1,000 cr financing" (https://economictimes.indiatimes.co
m/industry/banking/finance/banking/yes-bank-signs-mou-with-govt-for-rs-1000-cr-financing/arti
cleshow/61485872.cms). The Economic Times. 3 November 2017. Retrieved 11 April 2018.
30. "Yes Bank crisis: From what happens to my money to will SBI be saviour, all that has
happened" (https://www.indiatoday.in/business/story/yes-bank-crisis-rbi-sbi-invest-withdrawal-li
mit-reason-full-roundup-developments-1653193-2020-03-06). India Today. Retrieved 6 March
2020.
31. "Here is all you need to know about the Yes Bank moratorium" (https://www.newindianexpress.
com/business/2020/mar/06/here-is-all-you-need-to-know-about-the-yes-bank-moratorium-2113
138.html). The New Indian Express. Retrieved 6 March 2020.
32. "Yes Bank withdrawal limit capped at Rs 50,000; RBI supersedes board" (https://economictime
s.indiatimes.com/industry/banking/finance/banking/yes-bank-withdrawal-limit-capped-at-rs-500
00/articleshow/74498382.cms). The Economic Times. 6 March 2020. Retrieved 6 March 2020.
33. "Yes Bank withdrawals capped at Rs 50,000. Do these exceptions apply to you?" (https://www.i
ndiatoday.in/business/story/yes-bank-withdrawal-limit-exceptions-1653068-2020-03-06). India
Today. Retrieved 6 March 2020.
34. "Moody's lowers YES Bank rating to 'Caa3' from 'B2' " (https://economictimes.indiatimes.com/m
arkets/stocks/news/moodys-lowers-yes-bank-rating-to-caa3-from-b2/articleshow/74516990.cm
s). The Economic Times. 6 March 2020. Retrieved 9 March 2020.
35. "Icra downgrades YES Bank's Rs 52,600 crore bonds to 'default' " (https://economictimes.indiati
mes.com/markets/stocks/news/icra-downgrades-yes-banks-rs-52600-crore-bonds-to-default/arti
cleshow/74514255.cms). The Economic Times. 6 March 2020. Retrieved 9 March 2020.
36. "Yes Bank founder Rana Kapoor arrested by ED in money laundering case" (https://zeenews.in
dia.com/companies/yes-bank-founder-rana-kapoor-arrested-by-ed-in-money-laundering-case-2
268416.html). Zee News. 8 March 2020. Retrieved 8 March 2020.
37. "India's Yes Bank breakdown disrupts Walmart's PhonePe among a dozen other services" (htt
p://social.techcrunch.com/2020/03/06/indias-yes-bank-breakdown-disrupts-walmarts-phonepe-
among-a-dozen-other-services/). TechCrunch. Retrieved 6 March 2020.
38. "Cabinet approves reconstruction scheme for Yes Bank: FM Sitharaman" (https://www.moneyc
ontrol.com/news/business/cabinet-approves-reconstruction-scheme-for-yes-bank-fm-sitharama
n-5030711.html). Moneycontrol. Retrieved 13 March 2020.
39. Shukla, Saloni; Rebello, Joel (13 March 2020). "Seven investors join SBI to put over Rs 12,000
cr into Yes Bank; Prashant Kumar proposed as new CEO" (https://economictimes.indiatimes.co
m/industry/banking/finance/banking/seven-investors-join-sbi-to-put-over-rs-12000-cr-into-yes-b
ank-prashant-kumar-proposed-as-new-ceo/articleshow/74603685.cms). The Economic Times.
Retrieved 13 March 2020.

External links
Official Website (http://www.yesbank.in/)
YES BANK (http://www.bseindia.com/stock-share-price/yes-bank-ltd/yes-bank/532648/) at
Bombay Stock Exchange
BANK (http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?
symbol=YESBANK) at National Stock Exchange of India

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