Surabhi

Private sector lender YES Bank plans to disburse ₹10,000 crore of loans to retail and micro, small and medium enterprises in the third quarter this fiscal and is looking to double its assets and liabilities in the segments by 2023.

It is also targetting a monthly run rate of one lakh account opening and plans to ramp up its deposits to ₹2-lakh crore by the end of this fiscal year.

“In retail and MSME segments, we touched a lifetime high volume in October in terms of disbursements, and November was equally promising. The second quarter was very good for us with disbursals of about ₹6,500 crore to ₹6,800 crore. This quarter, we are looking forward to disbursing ₹10,000 crore to retail and MSME segment,” said Rajan Pental, Global Head – Retail Banking, YES Bank.

In an interaction with BusinessLine , Pental said the bank’s retail journey had started about five to six years ago and has got amplified after the restructuring. “We have built a wonderful book on asset and liabilities. We need to augment and take it to the next level,” he said.

“By 2023, we aim to increase our retail and MSME book to 60 per cent of the total loan book from the current 45 per cent,” said Pental.

The bank opened about 32,000 accounts in the first quarter and about 1.5 lakh accounts in the second quarter. It touched a lifetime high of opening 70,000 accounts in October, and expects to take it up to 1 lakh in the coming quarters.

“Our first strategy would be to be to build the business based on the referral business. We actively scout for opportunities by doing events, market walks, high potential markets, corporate salary, and are also open to association with new-age digital partners depending on the regulatory contours,” he said.

YES Bank’s deposits stood at ₹1.35-lakh crore as on September 30, 2020, and it aims to increase it to ₹2-lakh crore by March 2021.

“If you are able to acquire more customers and increase the deposit size of existing customers...we are on the right track on deposits.

YES Premia service

On Tuesday, the lender unveiled the revamped YES Premia service that offers personalised solutions focussed on the particular needs of key consumer segments, including small business owners, salaried professionals and senior citizens.

Pental also said the bank has seen very few restructuring requests at just ₹100 crore of restructuring in the retail side.

Collections on the retail side are more or less on track and SME as and when the momentum will catch up, will see them coming back to normal, he said, adding that churning in accounts is now coming back.