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Hub AI
Yes Bank AI simulator
(@Yes Bank_simulator)
Hub AI
Yes Bank AI simulator
(@Yes Bank_simulator)
Yes Bank
Yes Bank (stylised as YES BANK) is an Indian private sector bank, headquartered in Mumbai, catering to retail customers, MSMEs, and corporate clients. The bank was founded by Rana Kapoor and Ashok Kapur in 2003. Its network is spread across 300 districts in India and comprises 1,198 branches, 193 BCBOs and 1,287+ ATMs.
In 1997–98, three Mumbai-based bankers–Rana Kapoor, Ashok Kapur and Harkirat Singh–co-founded Rabo India Finance in partnership with Rabobank of the Netherlands. In early 2003, the three bankers started Yes Bank with proceeds from selling their stakes in Rabo India Finance. Harkirat Singh resigned in April 2003 citing concerns over Rabobank's influence in appointing a leader for Yes Bank.
In May 2004, Yes Bank obtained banking license from the Reserve Bank of India (RBI). Initially, Rana Kapoor and Ashok Kapur each held 26% in the bank, Rabobank owned 20%, newly-appointed directors were allocated 3% and private equity firms held the remaining 25%. The bank opened its first branch in August 2004.
Yes Bank was listed on the stock exchanges of India after its IPO in June 2005 at a face value of ₹10 and an issue price of ₹35.
In November 2008, co-founder and non-executive chairman Ashok Kapur was killed at the Trident Hotel during the 26/11 terrorist attacks in Mumbai.
In September 2016, Yes Bank scrapped its proposed $1 billion share sale due to market conditions. The company subsequently attempted to relaunch its failed capital raising exercise after appointing a new set of bankers.
By early 2020, the financial position of Yes Bank had deteriorated as it had been unable to raise capital. This had resulted in potential loan losses, which in turn led to downgrades and prompted investors to invoke bond covenants, and a withdrawal of deposits by customers.
On 5 March 2020, the RBI took over Yes Bank in a bailout provision. RBI reconstructed Yes Bank's board, naming Prashant Kumar, former chief financial officer and deputy managing director of State Bank of India, as its MD & CEO, along with Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non-executive chairman. Under the RBI's mandate, State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and other financial institutions infused funds to help Yes Bank through a reconstruction scheme.
Yes Bank
Yes Bank (stylised as YES BANK) is an Indian private sector bank, headquartered in Mumbai, catering to retail customers, MSMEs, and corporate clients. The bank was founded by Rana Kapoor and Ashok Kapur in 2003. Its network is spread across 300 districts in India and comprises 1,198 branches, 193 BCBOs and 1,287+ ATMs.
In 1997–98, three Mumbai-based bankers–Rana Kapoor, Ashok Kapur and Harkirat Singh–co-founded Rabo India Finance in partnership with Rabobank of the Netherlands. In early 2003, the three bankers started Yes Bank with proceeds from selling their stakes in Rabo India Finance. Harkirat Singh resigned in April 2003 citing concerns over Rabobank's influence in appointing a leader for Yes Bank.
In May 2004, Yes Bank obtained banking license from the Reserve Bank of India (RBI). Initially, Rana Kapoor and Ashok Kapur each held 26% in the bank, Rabobank owned 20%, newly-appointed directors were allocated 3% and private equity firms held the remaining 25%. The bank opened its first branch in August 2004.
Yes Bank was listed on the stock exchanges of India after its IPO in June 2005 at a face value of ₹10 and an issue price of ₹35.
In November 2008, co-founder and non-executive chairman Ashok Kapur was killed at the Trident Hotel during the 26/11 terrorist attacks in Mumbai.
In September 2016, Yes Bank scrapped its proposed $1 billion share sale due to market conditions. The company subsequently attempted to relaunch its failed capital raising exercise after appointing a new set of bankers.
By early 2020, the financial position of Yes Bank had deteriorated as it had been unable to raise capital. This had resulted in potential loan losses, which in turn led to downgrades and prompted investors to invoke bond covenants, and a withdrawal of deposits by customers.
On 5 March 2020, the RBI took over Yes Bank in a bailout provision. RBI reconstructed Yes Bank's board, naming Prashant Kumar, former chief financial officer and deputy managing director of State Bank of India, as its MD & CEO, along with Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non-executive chairman. Under the RBI's mandate, State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and other financial institutions infused funds to help Yes Bank through a reconstruction scheme.