18th Jan 17 Yes Bank launches Yes Fintech, a business accelerator program in collaboration with T Hub
Yes Bank in collaboration with THub (a startup incubator) has launched a business accelerator program named Yes Fintech. Under the program, the bank will provide innovative solutions to MSMEs and SMEs via Alliances, Relationships and Technology model (digitised banking approach). Yes Fintech will also help the bank to provide undisruptive lending and payments solutions to its MSME customers.
17th Jan 17 Yes Bank hired Silicon Valley based Gunshup to develop banking chatbot for loan offerings
Yes Bank has announced a partnership with Silicon Valley based Gunshup (a bot platform) to develop its chatbot named as YES mPOWER. The chatbot will facilitate customers to perform transactions on various social messengers. Customers will also get full information about various loan products (personal loan and mortgage loan) of the bank on the platform.
21st Sep 16 Fintech startup NiYO partners with YES Bank
Fintech startup NiYO has partnered with Yes Bank to turn out benefits to their employees. NiYO was launched in 2015 to benefit employee and payroll companies and allow employees to access and control their capitals. NiYO will provide benefit card to Yes Bank existing smart salary customers in 2000 companies. NiYO and Yes Bank have planned to provide these services to 20,000 companies and 5 million customers in the next five years.
23rd Aug 16 Yes Bank launches 7 credit cards
Yes Bank has launched seven credit cards to stimulate growth in its retail banking business. The card category includes Yes Prosperity and Yes First (for high net worth customers). The bank will charge a minimum 1.2 percent interest per month on Yes First Credit Card. These credit cards are central to its customer acquisition plans as the bank has set a business target too control 18 percent of industry which is having a base of 5 million active card customers by 2020
27th Jul 16 Yes Bank Q1 profit increased by 33%, revenue in-line; asset quality stable
As per the results of quarter ended June 2016, despite sharp spike in provisions, Net Profit of Yes Bank increased by 32.8 percent year on year to Rs 731.8 crore. The increase on Net Profit was largely attributable to a growth in net interest income, other income and operating profit. Net Interest Income, increased by 24.2 percent to Rs 1,316.6 crore aided by loan growth and CASA deposits. Provisions for bad loans increased 111 percent year on year and 10.8 percent quarter on quarter to Rs 206.6 crore for Q1FY17
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