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Yes Bank to raise Rs 1,500 cr capital this fiscal

Private sector lender Yes Bank plans to raise Rs 1,500 crore of capital this financial year, a top bank official said.

“We are very well capital-endowed as at March 2010 but we do have a headroom to raise around Rs 1,500 crore of hybrid capital in both our Tier-II and Tier-I structure,” Yes Bank Managing Director and CEO Rana Kapoor told reporters here today.

“We will be tapping this window definitely this fiscal because in a rising interest rate environment it is better to raise money sooner than later,” he said.

As on March 31, the bank's total CRAR stood at 20.61 per cent.
The bank would be tapping the domestic market for this hybrid capital, he said.
Yes bank wants to increase its branches to 250 by June 2011, Kapoor said.
“We want to increase our branches from the present 150 to up to 250 by June 2011. We should incur a capex of around Rs 60-75 crore depending on the fund-mix on metro, rural and urban branches,” he said.
Yes Bank is also looking at increasing its head count from 3,030 to 4,500 by end-this fiscal, Kapoor said.
“Presently, we have 3,030 people and our objective is to take the headcount in the first-half of this fiscal to 4,000 people. It is quite likely that we would end the year (FY 11) at a level not exceeding 4,500 people,” he said.
By March 2015, the bank would have a staff strength of 12,000, he said.

Source: Business Standard

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