Exclusive: What Yes Bank MD, CEO Prashant Kumar told Anil Singhvi on 'merger' with SBI
Yes Bank MD & CEO Prashant Kumar has said that there is no plan for SBI, Yes Bank merger in near future. In an exclusive interview with Zee Business Managing Editor Anil Singhvi, Kumar told that right time for SBI, Yes Bank merger was March 2020.
Yes Bank MD & CEO Prashant Kumar has said that there is no plan for SBI, Yes Bank merger in near future. In an exclusive interview with Zee Business Managing Editor Anil Singhvi, Kumar told that right time for SBI, Yes Bank merger was March 2020. When the merger didn't happen at that time then there is no need for merger of the two banks now as Yes Bank has been able to gain the customer confidence in the last six months' time.
Speaking on the SBI, Yes Bank merger; Prashant Kumar told Anil Singhvi, "If any time was ideal for SBI, Yes Bank merger then it's March 2020. Once the Yes Bank reconstruction scheme 2020 got implemented, it was made clear that Yes Bank is seen as a strong private bank and it needs to be developed on that line. In the last six months, Yes Bank has managed to gain the confidence of its customers and hence I don't think there is any need for SBI, Yes Bank merger now."
On why Yes Bank returned RBI's Rs 50,000 crore SLF assistance before the deadline, Kumar said, "Major reason for returning the RBI's money before the given deadline was growing confidence of the Yes Bank customers, especially the depositors. We were well confident about the continued liquidity flow into the bank and hence we returned the RBI's SLF assistance ahead of the given deadline."
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#NewsParViews | बैंक में लिक्विडिटी की स्थिति बेहतर है... SBI के साथ विलय की कोई योजना नहीं। आर्थिक स्थिति में सुधार से और ग्रोथ दिखेगी: प्रशांत कुमार, MD & CEO, यस बैंक #ResultsOnZee #YesBank @AnilSinghvi_ @YESBANK @pk63 pic.twitter.com/nsreLiFPCc
— Zee Business (@ZeeBusiness) September 23, 2020
Asked about the improvement in the ratings of the Yes Bank recently, Prashant Kumar said that it will further improve as the private bank has the Capital Adequacy Ratio at 20 per cent, CET at 13.4 per cent. Most importantly, Yes Bank is complying the RBI's all liquidity ratio norms (LCR, CRR and SLR) on the daily basis.
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