Mumbai, January 23, 2017:YES BANK, India’s fifth largest private sector bank, has been recognized as the ‘Best Mid-Sized Bank’ in the 21st edition of the Business Today - KPMG India’s Best Banks study. This is the 8th year in a row, where YES BANK has been awarded by Business Today in its annual Banking survey for growing robustly, embracing technology, innovating and reaching out to people at the bottom-of-the-pyramid.
The awards were given after a thorough quantitative evaluation done by Business Today and KPMG, followed by qualitative evaluation done by an eminent jury panel comprising Alok Agarwal, CFO, Reliance Industries; Vimal Bhandari, MD & CEO, Indostar Capital Finance; M.D. Mallya, former Chairman & MD, Bank of Baroda; and Ramaswamy Venkatachalam , MD, India & South Asia, FIS; among others.
According to BT-KPMG study, over the past six years, YES BANK's advances have grown by a compounded annual growth rate (CAGR) of 24 per cent, deposits rose by 21 per cent and total assets grew by 24 per cent CAGR. In the past three years, its advances grew even faster at 27.85 per cent CAGR, while in 2015-16 it grew by 29.99 per cent. YES BANK was adjudged the Best Mid-sized Bank for its performance in 2015-16.
On receiving this prestigious recognition for the eighth consecutive year, Rana Kapoor, Managing Director & CEO, YES BANK said, “Overall FY16, despite challenging headwinds, has proved to be extremely satisfactory for YES BANK. The bank has taken a leadership position in digital banking and social media, through our ART (Alliance-Relationship and Technology) strategy framework, and by creating innovative solutions and services to deliver enhanced customer experience for corporate, SME and retail customers.”
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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