Yes Bank seeks to speed-up growth

Eyes Royal Bank of Scotland Group’s retail assets to attain this aim.

CEO Rana Kapoor said the proposed acquisition is an important strategic decision should that oush through because of the urge to augment retail banking strategy. He added this will also help the bank acquire some very good well trained people who we will believe would be a very good cultural fit.

Kapoor said one-time book value would be more than enough to pay for RBS’ assets, but noted that his bank has yet to begin due diligence.

Retail and small and medium scale businesses currently account for some 14% of the bank’s US$8.2 billion loan book.

Yes Bank posted a third-quarter net profit of US$63 million, up 35% year-on-year. Net interest margin expanded 20 basis points to 3%, mainly driven by cheaper current account and savings account deposits.