Back in Black: Yes Bank looks to accelerate turnaround via retail route

New Delhi, Oct 26 Lender Yes Bank, which has shown a dramatic improvement in financial performance even after paying back the Central Bank's emergency funding plans to accelerate its turnaround via boosting retail customer base by offering tech-enabled services.

In a conversation with , Yes Bank's Managing Director and Chief Executive Prashant Kumar identified four focus areas to improve lender's financial health.

The top priority, he said, encompasses increasing the bank's retail base.

"Last month, we opened 60,000 accounts... till December-January we are aiming to reach 100,000 accounts per month," he said.

"This not only increases our retail base, it also instils confidence in the bank."

Prashant Kumar has been credited with the turnaround of the bank which was placed under moratorium earlier this year.

A consortium of lenders, led by the State Bank of India, then rescued the bank and appointed a new Board along with Kumar, who was earlier the SBI's Deputy Managing Director and Chief Financial Officer.

Presently, the lender has fully paid back the RBI's special liquidity facility of Rs 50,000 crore and posted a net profit of Rs 129 crore for the July-September quarter.

In the corresponding quarter of the last financial year

( With inputs from IANS )