Yes Bank said on Tuesday it is planning to enter the credit card business by the first quarter of FY17 and has appointed Rajanish Prabhu as senior president and national head to lead this business. The private sector lender is also looking at expanding its home loan product offerings under the affordable housing segment.
In a bid to accelerate retail and small and medium enterprises (SME) business, Yes Bank announced it has redesigned its organisational structure.
Pralay Mondal, who is heading the branch banking, business banking (small enterprises) and retail, will also head the bank’s commercial business banking.
It also said all liabilities bank-wide are being unified under Chitra Pandya who is a senior president. The bank is targeting to expand network to 1,500 branches by March 2018 and to 2,500 by March 2020.
Yes Bank also said that to effectively manage the heterogeneity associated with semi-urban/rural geographies, a dedicated rural & inclusive branch channel (RURBAN) has been established.
This would help in supporting the acquisition & servicing of rural assets businesses and to generate granular liabilities, the bank said in a release. Senior president Mani Ayyar will be the rural & inclusive (Rurban) branch banking head nationally.
The urban branch banking business will be managed through a two part regional management structure by Narendra Dixit who will be looking after the north and east regions along with Akshay Sapru who will head the west and south regions.
The bank has brought on board Ratan Kesh, with two decades of experience most recently with HDFC Bank, to head the branch service delivery, contact centre and service excellence, according to the press release.
Kapil Juneja, who was heading the liabilities along with retail asset and currency chest operations, will now assume the entire responsibilities of liability operations, retail asset operations, city processing centres, currency chest operations (new capability) and the operational excellence team for all retail operations nationwide.