The board of the bank has engaged global recruitment firm Egon Zehnder to help find a new CEO
This was in response to reports of differences surfacing between Kumar and the retail banking team. Kumar also reiterated that the restructuring of senior management that recently happened was done keeping in mind the 5-year plan for the bank.
Speaking to Moneycontrol, Yes Bank's Prashant Kumar said the lender is now at a stage where it does not have to make fresh provisioning for asset quality issues of the past.
In July-September quarter, the lender have reported Rs 1,179 crore of fresh retail slippages, as per investor presentation
The total deposits of the bank increased 18.3 percent on-year to Rs 2.77 lakh crore in July-September quarter, as against 2.34 lakh crore in the year-ago period.
The bank is exploring acquisitions in the microfinance sector as part of its plan to focus on higher-yielding products
Speaking exclusively to Moneycontrol, Prashant Kumar, MD & CEO, Yes Bank explains why he is confident about the turnaround experienced by the bank from March 2020 to now. In this interview, he addresses an array of topics concerning the bank, starting from the deposit strategy to the ongoing stake by SBI.
The entire flow of Paytm transactions is happening through us without any problem, Kumar said .On March 15, Moneycontrol reported that Yes Bank and Axis Bank are going live on Paytm app.
The bank has around 11 percent of its funds placed in the RIDF, which works out to be around Rs 44,000 crore, Kumar added.
Kumar said that there will be a proper KYC compliance process which will be undertaken by the bank if they succeed in acquiring these merchants.