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Shareholders fully support all Resolutions proposed by the Board of Directors of YES BANK

  • Approved all the 13 Resolutions with overwhelming majority

  • Approved Re-appointment of Mr. Rana Kapoor as MD & CEO of the Bank for a period of 3 years

  • Approved the appointment of Directors, namely Mr. Subhash Chander Kalia, Mr. Rentala Chandrashekhar and Dr. Pratima Sheorey

  • Approved Dividend at a rate of INR 2.7 per equity share of INR 2 each (135%)

Mumbai: June 12, 2018

The General body of the shareholders of YES BANK, India's 4th largest Private sector bank, has approved all the 13 Resolutions with an overwhelming majority, in the 14th Annual General Meeting (AGM) held on June 12, 2018. The outcome reflects a summation of votes cast electronically at the AGM venue on June 12, 2018, and through remote E-voting held from June 8, 2018 to June 11, 2018.

The shareholders approved the following:

  1. The shareholders supported the resolutions for re-appointment of Mr. Rana Kapoor as MD & CEO of the Bank for a further period of 3 years, effective September 1, 2018, with an overwhelming majority. The re-appointment is subject to final approval by the Reserve Bank of India (RBI).

  2. The appointment of Mr. Subhash Chander Kalia as Non-Executive Non-Independent Director.

  3. The appointment of Mr. Rentala Chandrashekhar as Independent Director for a period of 5 years.

  4. The appointment of Dr. Pratima Sheorey as Independent Director for a period of 5 years.

  5. The re-appointment of Mr. Ajai Kumar as Non-Executive Non-Independent Director.

  6. The shareholders have approved through special resolution to raise capital aggregating up to USD 1 billion by way of issue of shares (QIP/ADR/GDR/FCCB).

  7. The shareholders also approved through special resolution the proposal to borrow/raise funds in Indian/foreign currency by issue of Debt Securities including but not limited to Non-Convertible Debentures, Medium Term Notes and Bonds up to
    a total amount of INR 30,000 crore. The shareholders also approved through special resolutions to raise the total borrowing limit of the Bank to INR 1,10,000 crore.

  8. The Shareholders approved a Dividend at a rate of INR 2.7 per equity share of INR 2 each (i.e. 135%) as recommended by the Board of Directors of the Bank, with an overwhelming majority.

  9. The shareholders also adopted the annual audited financial statements for the year ended March 31, 2018 (both standalone and consolidated), with the Report of the Auditors thereon.

  10. Ratified the re-appointment of M/s. B S R & Co. LLP, Chartered Accountants, as Statutory Auditors of the Bank.

  11. The shareholders have approved the new Employee Stock Option Scheme, namely YBL ESOS – 2018 for employees of YES BANK and its subsidiaries.

Speaking on the occasion, Mr. Ashok Chawla, Non-Executive Chairman, YES BANK said, "We are extremely satisfied with the trust and faith shown by the institutional and retail shareholders in the Board of Directors & management, the Bank’s business and financial performance, growth plans and decisions to maintain the highest professional standards. YES BANK is fully equipped to capitalize on innovations in technology through strategic partnerships with established organizations as well as agile fintech players, thereby enhancing customer service & developing robust future ready processes for the entire Indian Banking industry.”

The 14th AGM of YES BANK held on Tuesday, June 12, 2018 was attended all 9 Board of Directors including:

  • Mr. Ashok Chawla, Non-Executive (Independent) Chairman of the Board and Chairman – Stakeholders Relationship Committee and Corporate Social Responsibility Committee

  • Mr. Vasant V. Gujarathi, Independent Director and Chairman - Audit Committee

  • Mr. Brahm Dutt, Independent Director and Chairman - Nomination & Remuneration Committee

  • Mr. Ajai Kumar, Non-Executive Non Independent Director, and Chairman – Risk Monitoring Committee and Board Credit Committee

  • Lt. General (Dr.) Mukesh Sabharwal (Retd.), Independent Director & Chairman - Service Excellence, Branding & Marketing Committee

  • Dr. Pratima Sheorey, Independent Director (appointed at AGM)

  • Mr. Rentala Chandrashekhar, Independent Director (appointed at AGM)

  • Mr. Subhash Chander Kalia, Non-Executive Non-Independent Director (appointed at AGM)

  • Mr. Rana Kapoor, Managing Director & CEO, YES BANK

L to R: Mr. S.C. Kalia, Mr. Ajai Kumar, Lt. General (Dr.) Mukesh Sabharwal (Retd.),
Mr. Rana Kapoor, Mr. Ashok Chawla, Mr. Brahm Dutt, Mr. Vasant Gujarathi,
Mr. R. Chandrashekhar and Dr. Pratima Sheorey at the 14th AGM of YES BANK

 

About YES BANK

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

For media queries, please contact:

Amit Shah
YES BANK
Ph.: +91 9004485552
Email: amit.shah1@yesbank.in

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Jyothi Goswami
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