YES Bank Ltd. Share Price

Major Milestones

Yes Bank, one of India's prominent private sector banks, has achieved several major milestones in its history. Here are some key milestones for Yes Bank.

Incorporation: Yes Bank was founded by Rana Kapoor and Ashok Kapur in 2004. It received its banking license from the Reserve Bank of India (RBI) in 2004.

IPO: Yes Bank went public with its initial public offering (IPO) in July 2005, which was oversubscribed more than 29 times.

Rapid Growth: In its initial years, Yes Bank witnessed rapid growth and expansion, becoming one of India's fastest-growing private sector banks.

International Presence: Yes Bank expanded its international presence by opening representative offices in key financial hubs, including London, Singapore, Abu Dhabi, and Shanghai.

Technology Integration: The bank invested significantly in technology and digital banking services to enhance customer experience and streamline its operations.

Cross-Border Trade and Finance: Yes Bank became a prominent player in facilitating cross-border trade and finance for Indian businesses.

Acquisitions: Yes Bank acquired a number of financial institutions, including the acquisition of the Indian and Gulf operations of RBS in 2013. This acquisition significantly expanded its footprint and customer base.

Financial Inclusion: The bank played a role in various financial inclusion initiatives, supporting underprivileged communities and promoting financial literacy.

Financial Challenges : Yes Bank faced financial challenges in 2019-2020, which led to regulatory intervention by the Reserve Bank of India. The RBI imposed a moratorium and initiated a restructuring plan to stabilize the bank's operations.

Reconstruction : In March 2020, the RBI approved a reconstruction plan for Yes Bank, leading to a consortium of banks and financial institutions injecting capital into the bank to revive it.

Resumption of Operations : Yes Bank resumed its operations with the capital infusion and a new board of directors, marking a turnaround in its fortunes.

Relisting on Stock Exchanges : After the reconstruction, Yes Bank's shares were relisted on Indian stock exchanges.

Continued Transformation: Yes Bank continued its transformation efforts, focusing on strengthening its financial position, improving governance, and expanding its digital banking services.

Tracking Yes Bank timeline

Certainly, here are some major timelines and events in the history of Yes Bank

2004: Yes Bank is founded by Rana Kapoor and Ashok Kapur. It received its banking license from the Reserve Bank of India (RBI) in 2004.

2005: Yes Bank went public with its initial public offering (IPO) in July 2005, which was oversubscribed more than 29 times.

2013: Yes Bank acquired the Indian and Gulf operations of RBS, significantly expanding its footprint and customer base.

2016: Rana Kapoor was reappointed as the Managing Director and CEO of Yes Bank for three more years.

2018: Rana Kapoor's term as CEO was cut short, and he was asked to step down by the RBI. Ravneet Gill was appointed as the new Managing Director and CEO.

2019-2020: Yes Bank faced financial challenges, leading to regulatory intervention by the RBI. The RBI imposed a moratorium and initiated a restructuring plan to stabilize the bank's operations.

March 2020: A consortium of banks and financial institutions infused capital into Yes Bank as part of a reconstruction plan. The bank resumed its operations with a new board of directors.

March 2020: Sunil Mehta was appointed as the Non-Executive Chairman, and Prashant Kumar became the Managing Director and CEO, playing a key role in the bank's revival.

2020: Yes Bank's shares were relisted on Indian stock exchanges after the reconstruction. Ongoing: Yes Bank continued its transformation efforts, focusing on strengthening its financial position, improving governance, and expanding its digital banking services.