NEWS & ADVICE : SAVINGS ACCOUNTS
YES Bank proposes to raise quasi capital of Rs. 750 crore
By Neelima Shankar
Jun 22, 2012
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Mumbai based private lender YES Bank has proposed to add a quasi capital (tier II) of Rs. 750 crore by the end of calendar year, Dr. Rana Kapoor, MD and CEO YES Bank said.

Quasi capital is fresh capital other than retained earnings and paid up capital, and which is employed in net worth of a company.

The bank also plans to raise $ 300-400 million in global depository receipts (GDR) or via qualified institutional placements (QIP) route.

The bank increased its capital adequacy ratio (CAR) from 16.5% in March 2011 to 17.96% end of March 2012.  The bank borrowed Rs. 380 crore in hybrid debt from the International Finance Corporation.

The lender has no plans to reduce its rates on deposits and advances, stating it would maintain the rates for some time. Currently the bank maintains a base rate of 10.5%, and the bank has plans to grow its export disbursements for the fiscal.


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