During Q1, YES Bank purchased PSL certificates totaling ₹4,300 crore. CEO Prashant Kumar mentioned that the bank is actively engaging with banking correspondent partners for organic growth opportunities while simultaneously evaluating potential acquisition targets.
Although the bank aims to finalise a microfinance entity acquisition in FY24, the process is still under evaluation. YES Bank is also exploring co-lending and portfolio buyouts to boost its agriculture and SME loan books.
The bank had recentlyrevealed its plan to acquire microfinance companies to strengthen its priority sector lending (PSL) portfolio and tackle legacy PSL challenges.
Shares went down by 1.50 per cent to ₹17.78 at 10:02 am on BSE.