Yes Bank (stylised asYES BANK) is an Indian private sectorbank, headquartered inMumbai, catering to retail customers,MSMEs, and corporate clients. The bank was founded byRana Kapoor and Ashok Kapur in 2003.[5] Its network is spread across 300 districts in India and comprises 1,198 branches, 193 BCBOs and 1,287+ATMs.[6][7]
In 1997–98, three Mumbai-based bankers–Rana Kapoor, Ashok Kapur and Harkirat Singh–co-founded Rabo India Finance in partnership withRabobank of the Netherlands.[8] In early 2003, the three bankers started Yes Bank with proceeds from selling their stakes in Rabo India Finance.[9] Harkirat Singh resigned in April 2003 citing concerns over Rabobank's influence in appointing a leader for Yes Bank.[10][11]
In May 2004, Yes Bank obtained banking license from theReserve Bank of India (RBI).[12] Initially, Rana Kapoor and Ashok Kapur each held 26% in the bank, Rabobank owned 20%, newly-appointed directors were allocated 3% and private equity firms held the remaining 25%.[13] The bank opened its first branch in August 2004.[10]
Yes Bank was listed on the stock exchanges of India after itsIPO in June 2005 at a face value of₹10 and an issue price of₹35.[14][15]
In September 2016, Yes Bank scrapped its proposed $1 billion share sale due to market conditions.[17][18] The company subsequently attempted to relaunch its failed capital raising exercise after appointing a new set of bankers.[19][20]
By early 2020, the financial position of Yes Bank had deteriorated as it had been unable to raise capital. This had resulted in potential loan losses, which in turn led to downgrades and prompted investors to invoke bond covenants, and a withdrawal of deposits by customers.[21][22]
On 5 March 2020, the RBI took over Yes Bank in abailout provision. RBI reconstructed Yes Bank's board, naming Prashant Kumar, former chief financial officer and deputy managing director ofState Bank of India, as its MD & CEO, along with Sunil Mehta, former non-executive chairman ofPunjab National Bank, as the non-executive chairman.[23][24][25][26] Under the RBI's mandate,State Bank of India,HDFC Bank,ICICI Bank,Axis Bank and other financial institutions infused funds to help Yes Bank through a reconstruction scheme.[27][28]
In April 2021, India's market regulatorSecurities and Exchange Board of India (SEBI) proposed a fine of₹250 million (US$3.38 million) on Yes Bank, stating that it had fraudulently sold certain risky bonds without the necessary warnings and risk assessments.[30][31] In May 2021, the Securities Appellate Tribunal (SAT) imposed an interim stay on SEBI's order.[32]
On 21 February 2023, it issued 2,13,650 equity shares to its employees under the company ESOP plan.[33][34]
TheSumitomo Mitsui Banking Corporation is the largest shareholder in Yes Bank, holding 24.2% of the shares. While theState Bank of India (SBI), the largest scheduled commercial bank in India, was the largest shareholder in Yes Bank, the State Bank of India (SBI) has sold a 13.18% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,889 crore, a deal that was completed in September 2025. CurrentlySBI holds 10.8% of the shares.[35] Yes Bank has also received investments from international private equity firms, namelyAdvent International andThe Carlyle Group.[36][37]
Yes Bank operates in retail, MSME andCorporate banking sectors from 1,192 branches and 1,301 ATMs and cash recyclers in over 700 cities. It serves corporate and retail customers throughretail banking andasset management services.[38]
In 2015, the bank ventured into green bond issuance to finance renewable energy projects like solar, wind, biomass, and small hydropower.[39]
In October 2017, the bank launched adigital wallet known as Yes Pay, integrating withBHIM and UPI.[40] On 3 November 2017, Yes Bank signed aMoU with thegovernment to provide₹10 billion (equivalent to₹14 billion or US$170 million in 2023) financing for food processing projects.[41]
YES Securities (India) Limited (YSIL), which was founded in 2013, is a fully owned subsidiary of YES Bank. It provides personalized financial services to Retail, HNI/UHNI, and Institutional clients, such as wealth broking, institutional equity sales and trading research.[46][47]
On 5 March 2020, theReserve Bank of India (RBI) announced that, in the interest of its customers and depositors, it would suspend and supersede Yes Bank's board and impose a 30-day moratorium on its operations.[48] The RBI cited Yes Bank's failures to raise new funding to cover itsnon-performing assets, inaccurate statements of confidence in its ability to receive new funding, and its underreporting of its non-performing assets, among other factors, as the reasons for the moratorium.[49]
On 6 March 2020,ICRA downgraded therating of Yes Bank's₹526 billion (US$7.1 billion) in core bonds to a "D" rating, whileMoody's downgraded them to "Caa3".[50][51][52]
During the moratorium period, Yes Bank customers could withdraw only up to₹50,000 (US$674.77) from their accounts for the following one month, except in certain situations like medical treatment, emergencies, higher education costs and obligatory expenses for ceremonies such as weddings (subject to RBI's approval).[53] The moratorium disrupted multiple e-commerce services whose users were struggling to make online transactions or use payment services like UPI.[54][55][56]
Under the new management, Yes Bank's liquidity profile improved with a rise in deposits.[63] The bank generated₹150 billion (US$2.02 billion) via follow-on public offer in July 2020.[64]
ICRA raised its ratings on securities issued by Yes Bank Ltd in September 2020.[65] Low-level Basel II bonds and infrastructure bonds were raised to "BBB" from "BB+." Tier II bonds that are in line with Basel III were raised from "BB" to "BBB-." Tier I and higher tier II bonds that were compliant with Basel II were raised from a default rating to a "BB" rating.[66]
Moody's changed Yes Bank's long term issuer rating from Caa1 to B3 in August 2020.[67] In November 2020, CARE Ratings revised its rating on the YES Bank's infrastructure bonds to 'CARE BBB' from the previous 'CARE B'.[68] It also revised its outlook to 'Stable' from the previous ‘Under credit watch with developing implications’ on the above-mentioned instruments. Yes Bank's Upper Tier II Bonds and Perpetual Bonds (Basel II) received a revised rating of 'CARE BB+' from previous 'CARE D'.[69]
In June 2021, the board approved₹100 billion (US$1.35 billion) of fundraising by issuance of debt securities.[70]
₹367.52 billion (US$4.3 billion) (2025)[2]
NIFTY 200 companies
