Yes Bank today said it has received approval from market regulator Securities and Exchange Board of India (Sebi) for acting as custodian of securities. Custodian of securities is a licence granted by Sebi to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs).

MUMBAI: Shareholders of Yes Bank on Tuesday approved the reappointment of Rana Kapoor as MD & CEO of the bank for a further period of three years effective September 1, 2018.

The reappointment was one of the thirteen resolutions approved by the shareholders and is subject to final approval by the RBI.

Rana Kapoor is seeking shareholder approval for another term as chief executive officer of Yes Bank Ltd., the Indian lender which has set records for both loan growth and the highest proportion of disputed bad debt among its top private-sector peers. Shareholders are due to vote Tuesday on whether to grant another three-year term to Kapoor, who has helmed Yes Bank since 2004.

Chennai: After tasting success with its fintech accelerator, Yes Bank is now set to launch multi sector accelerator program.

YES SCALE will offer a 15 week program for startups in the areas of smart city, clean tech, Agritech, Lifesciences tech and education tech.

Small Industries Development Bank of India (SIDBI) is looking to expand its working capital portfolio and has partnered Yes Bank to cater working capital needs of its Micro, Small and Medium Enterprise (SME) clients.

Under the pact, Yes Bank would provide various banking services, including working capital, to SIDBI customers at its pan-India branches, which currently number around 1100.

Mumbai: Private lender Yes Bank on Thursday beat Street estimates with net profits rising 29 per cent for the fourth quarter ended March 31, 2018, to Rs 1,179.4 crore from Rs 914.12 crore in the year-ago period.

Analysts expected the bank to post net profits of around Rs 1,000 crore.

MUMBAI: Yes Bank has receveid RBI’s approval to open two representative offices in London and Singapore. This comes on the back of the bank opening a representative office in Abu Dhabi last year followed by an office the GIFT City.

“Opening of representative offices in key financial and trade hubs like London and Singapore, in addition to our existing office in Abu Dhabi, gives us an effective coverage for most key global geographies,” said Rana Kapoor, MD & CEO, Yes Bank.

Private sector lender Yes Bank today said has received Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore. “This is a significant development in the overall augmentation of Yes Bank’s business model and will help in further diversification and expansion of financial services to the NRI diaspora,” Yes Bank MD and CEO Rana Kapoor said.

Yes Bank offers an excellent opportunity to play the theme of structural improvement in profitability vs peers. Not only is the growth opportunity fairly abundant given Yes Bank’s smaller but growing balance sheet, even the retail opportunity on both sides of the balance sheet is likely to drive a 20bps improvement in RoA to 1.9% and 500bps increase in RoE to 23% over the next two years. In contrast, its stock valuations remain muted at 2.4x P/ABV and 13x P/E – this despite a solid stock return of 24% CAGR over the longer term (11 years) and even in the shorter term – 23% CAGR over three years – similar to HDFC Bank’s performance.

The recent under performance in Yes Bank’s (YES) stock has been triggered by concerns of worsening asset quality amid tightening regulations. We believe YES has robust resolution processes and will be able to recover the bulk of its stressed assets. The strong corporate loan growth, while opportunistic, is driven with a specific strategy in mind. In time, focus on growing granular assets would regain importance as the current opportunity subsides.

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