In a bid to re-balance its business model, Yes Bank is planning to expand its retail banking business. Currently, the private-sector lender depends on large corporates for 66% of its business, while about 15% of its portfolio comprises the mid-segment and 17% belongs to small and medium enterprises (SMEs).
The bank also wants to re-balance its resources of deposits. The bank gets about 20% of its deposits from the Current Account Savings Account (CASA).
CASA is considered to be the most cost effective source of bank deposits since the rate of interest paid on CASA remains around 6% against over 8% in time deposits.
The bank reported 21.41% rise in its net profit at Rs 415.60 crore for the quarter as compared to Rs 342.31 crore for the same quarter in the previous year. Total income of the bank increased by 18.60% at Rs 2902.00 crore for quarter under review as compared to Rs 2446.83 crore for the quarter ended December 31, 2012.
The bank also wants to re-balance its resources of deposits. The bank gets about 20% of its deposits from the Current Account Savings Account (CASA).
CASA is considered to be the most cost effective source of bank deposits since the rate of interest paid on CASA remains around 6% against over 8% in time deposits.
The bank reported 21.41% rise in its net profit at Rs 415.60 crore for the quarter as compared to Rs 342.31 crore for the same quarter in the previous year. Total income of the bank increased by 18.60% at Rs 2902.00 crore for quarter under review as compared to Rs 2446.83 crore for the quarter ended December 31, 2012.
No comments:
Post a Comment