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2010-01-21

Yes Bank to increase lending to SME sector

The net profit of Yes bank has risen by 19 per cent year-on-year to Rs 126 crore in the October-December quarter. The main reason for this increase is the increase in the net interest income. The bank

The net profit of Yes bank has risen by 19 per cent year-on-year to Rs 126 crore in the October-December quarter. The main reason for this increase is the increase in the net interest income. The bank saw a 71 per cent increase in loan in the quarter.

 

On one hand loans to medium-sized corporate formed 23 per cent, and that small and medium enterprises, along with retail consisted 4.3 per cent and the loans to large corporate formed 72.6 per cent, of the total loan given away by the bank.

 

Keeping in mind the small portion allotted to small and medium businesses the bank intends to increase its lending to SME sector and targets to lend 30-35 per cent of total advances in next five years, according to Jaideep Iyer, Deputy Chief Financial Officer at YES Bank.

 

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