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Encouraged by healthy growth in deposits and advances in the retail segment, YES Bank has brought forward the target for achieving increase in the proportion of this segment in its overall business.
As against the earlier target of achieving 40 per cent CASA (current account, savings account) deposit in overall deposits by 2020, the private sector bank now expects to achieve the same within this financial year. As at June-end 2017, CASA stood at 36.8 per cent.
The bank also expects the proportion of CASA plus retail fixed deposits in total deposits to increase to about 75 per cent from the current 62 per cent well before the 2020 target, said Pralay Mondal, Senior Group President, after launching the bank’s private credit card for ultra high networth individuals (UHNIs).
On the advances front, the bank intends increasing the proportion of retail advances in overall advances to 40 per cent from 32 per cent now. Mondal said the bank is witnessing good traction in retail loans.
Card for the uber richYES Bank’s ‘by invitation’ credit card for UHNIs has been launched on the MasterCard World Elite platform. This card, which has a membership fee of ₹50,000 and a renewal fee of ₹10,000, will be issued to a select 2,500 customers.
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