Plan to double retail loan book by 2023: Yes Bank

Yes Bank is now all set to double the size of its retail loan book by 2023.

Prashant Kumar in an interview with CNBC-TV18 spoke about how they were seeing good traction on the deposit side and the loan side in the retail and MSME space. He also said that they were planning to increase the share of loans to micro, small and mid-sized businesses. On talking about the retail growth, Mr. Kumar stressed that in the current quarter their focus is on achieving a disbursement of more than Rs 10,000 crore from retail and MSME. Rajan Pental, global head (retail banking) at Yes Bank, during a virtual conference said that the Bank has already disbursed loans worth Rs. 6800 crore to retail and MSME segments in the quarter that ended on September 30. 

Retail and SME have approximately 45% contribution overall in the book of Yes Bank and they are now planning to take it towards 60%. Simultaneously, they also want  to take the business of liabilities to 60% from the current 47%. So that the contribution of both, retail and SME, retail assets & SME and liabilities business are about 60%.

Pental disclosed that in spite of the Covid 19 pandemic, the deposit front saw constant growth in the first two quarters of the current financial growth with contributions coming from retail as well as the corporate front. Yes bank opened around 32,000 accounts in the first quarter followed by opening of more than 1.50 lakh accounts in the next quarter which was nearer to normal account opening rates of the bank. 

Talking about the loan book growth, the bank expects a growth between five to ten percent, which is almost Rs 300 crore that will go for the restructuring of the Rs. 60,000 crore portfolio, Kumar said.

Yes Bank is also focusing on the home loan segment. They are trying to make it more affordable in not just the Tier-I cities but the Tier-II cities too.


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