The focus now is on building "mind share" as the top Bank in the country and target a 2.5% market share in India by 2020 from our current market share of just over 1%, said MD & CEO Rana Kapoor
Banking on retail segment and credit card services for the next phase of growth, Yes Bank is looking to more than double its market share at 2.5% by 2020 to emerge as one of the major private sector lenders in the country.
Yes Bank will also launch its credit card services in the first quarter of next fiscal.
In its Version 2.0 phase from 2010-2015, Yes Bank grew from being a medium-sized bank to become the smallest "large" bank in the country with a balance sheet size over Rs 1,00,000 crore, Yes Bank Managing Director & CEO Rana Kapoor said.
"The focus now is on building "mind share" as the top Bank in the country and target a 2.5% market share in India by 2020 from our current market share of just over 1%.We have been growing at a fairly healthy rate of 25% and we expect to continue growing at this pace in the next 5 years as well with increasing focus on MSME and retail," Kapoor said.
Yes Bank's net profit moved up by 25.06% at Rs 675.74 crore during the October-December quarter of 2015-16.
Kapoor said, "In retail banking, we now have a comprehensive and complete product suite on liabilities and assets front with credit cards to be launched in first quarter of 2016-17."
The bank expects 20% of its new retail banking accounts, to be sourced from digital banking channels that will provide significantly enhanced efficiencies and also help in substantial cost reduction, he said.
The bank will use digitisation of corporate banking services as a tool to further growth. Currently, the entire focus of offering a digital experience has been towards retail banking.
"Yes Bank believes that digitising the financial supply chain of B2B clients is a huge untapped segment, and we became the first in the industry to address this opportunity with the launch of Application Programme Interface (API) Banking services.
"API Banking allows Yes Bank's banking systems to be integrated with a corporate client's ERP systems in a seamless and extremely secure environment," Kapoor said.
Besides, Yes Bank has also beefed up its retail leadership with top hires who are industry veterans in retail loans, retail risk management and credit cards, he added.
"The focus is on building a quality franchise of retail customers and convert the cross-sell opportunities. With a presence of over 750 branches across all states of India, we are strongly positioned to grow the retail franchise significantly in the coming years," Kapoor said.
Co-founded by Rana Kapoor in 2004, the Mumbai- headquartered Yes Bank is currently India's fifth largest private sector bank.
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 "Yes Bank MD & CEO Rana Kapoor")
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