Mumbai, June10, 2013: YES BANK, India’s fourth largest private sector Bank held its 9th AGM in Mumbai on June 8, 2013.
The AGM approved the resolution to raise USD 500 Mn incremental capital or its Indian Rupee equivalent during the current year. Mr. Kapoor stated that the Bank would aim to raise this capital during the current year, potentially through GDRs, in combination with a QIP and Domestic Institutional Investors (DII), in order to ensure fullest and widest participation of all investor classes. This would be in accordance with the bank’s financial strategy to broad based and diversify its capital sources across all investor classes and deepen the shareholder register.
The shareholders also granted a unanimous approval of the resolution to pay 60% dividend on equity shares, with a cut-off date of May 27, 2013, which is a 50% increase on the 40% dividend paid last year.
The AGM adopted the Profit and Loss Account and Balance Sheet of the Bank for 2012-13, as also retirement by rotation and reappointment of independent Directors Ms. Radha Singh and Mr. Ajay Vohra.
Three resolutions pertaining to the appointment of Mr. Diwan Arun Nanda; Mr. Ravish Chopra and Mr. M R Srinivasan, whose appointments was earlier approved by the Board of Directors, were put to poll upon the request of a shareholder. The said request was accepted and the said three resolutions were put to poll. Overall 57% of the total shareholder ownership votes were polled and the General Body of the shareholders passed all three resolutions with an overwhelming majority of about 80%, and elected all the three aforesaid Directors.
About YES BANK LIMITED
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Dr. Rana Kapoor and his 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 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 vision of “Building the Best Quality Bank of the World in India” by 2015.
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