NEW DELHI: Technology majors do it globally, and, for a while now, Indian tech players have also been hiring the best architects in the business to make their offices Gen-Y friendly. But now, a bank wants to turn the idea of a 'traditional bank' on its head. Yes Bank is designing its upcoming facility in Chennai to encourage more collaboration among its growing millennial workforce.

Despite its gross non-performing assets (NPA) more than doubling over the past year, Yes Bank on Wednesday reported a 33% year-on-year rise in its net profit for the June quarter to `731.80 crore, benefiting from a surge in non-interest income and higher net interest income.

The private sector lender’s total income for the quarter came in at `4,762.83 crore, over 25% higher than in the same quarter last year.

Private sector lender Yes Bank today said it has received an in-principle approval from the capital markets regulator SEBI to sponsor a mutual fund and to set up an asset management company and a trustee company.

In a BSE filing, Yes Bank said it “has received an in-principle approval from the Securities & Exchange Board of India (SEBI) to sponsor a Mutual Fund and to setup an asset management company (AMC), and a trustee company.

Rating agency Moody's today said Yes Bank's baseline credit assessment (BCA) of "Ba1" reflects potential weaknesses in funding and liquidity profile.

The private sector lender has maintained an adequate loans to customer deposit ratio of 95% at end-March 2016. But higher reliance on corporate deposits relative to its peers creates risks in volatile markets.

Shares of three private sector banks – HDFC Bank, IndusInd Bank and YES Bank – have hit their respective lifetime highs on expectation of robust earnings for the first quarter (April –June) of the current financial year 2016-17.

YES Bank (up 2.5% at Rs 1,147), HDFC Bank (2% at Rs 1,196) and IndusInd Bank (up 1.8% at Rs 1,147) were up more than 1% each, touching their respective record highs on the BSE in intra-day trade. At 10:24 AM, the S&P BSE Sensex was up 1.7% or 472 points at 27,598.

India could benefit from Brexit and delay in hike in the US interest rate over the next six months, YES Bank Chief Executive Officer Rana Kapoor has said.

"In the next 1-6 months, India could very well be a significant beneficiary of this extraordinary event, given Eurozone pain points, delayed hike in US interest rates and with India increasingly standing out as the must invest destination for strategic and financial investors.

YES Bank has moved higher to its record high of Rs 1,092 on the BSE in an otherwise subdued market, after Nomura maintained a ‘buy’ rating on the stock with revised target price of Rs 1,300 from its earlier target of Rs 1,125.

YES Bank’s asset quality, according to the research firm, has held up better than most corporate banks.

With plans to raise $1 billion from international markets, private sector lender YES Bank is eying to setup an international branch here as a springboard to tap the Asian markets, its founder has said.

YES Bank has become the first Indian bank to receive government approval for a fully fungible composite foreign investment limit of 74%. Its Board of Directors has approved to raise an additional $1 billion of Equity Capital following the $500 million raised in May 2014.

Yes Bank has gained shareholder approval to raise up to $1 billion of equity capital. That entails a large dilution of 15%. We wouldn’t be too worried and would encourage investors to participate in the capital raising which is most likely to be in the form of a qualified institutional placement (QIP), in our view. We build in the capital raising and revise our EPS estimates. We increase our TP by 17% to R1,325 driven by the increase in BVPS due to the capital raise.

Shares of Yes Bank rose on Friday after the bank said it has acquired an 8 per cent stake in Receivables Exchange of India (RXIL).

The stock closed 2.11 per cent up at Rs 1062.25 on BSE. On NSE, it jumped 2.30 per cent to Rs 1,064.00.

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