Private sector lender Yes Bank today said it has signed loan agreements worth $265 million with OPIC and Wells Fargo to support small business growth in India.

"Yes Bank has signed an agreement with Overseas Private Investment Corporation (OPIC), the US government's Development Finance Institution, for debt financing of $245 million to increase lending to micro, small and medium enterprises (MSMEs) in India," Yes Bank said in a regulatory filing.

Yes Bank Ltd has sold 3.02% of pledged shares of Vijay Mallya in United Breweries Ltd that is valued at Rs 770 crore as banks tighten their hold on the liquor baron for not clearing loans raised to run the defunct Kingfisher Airlines.

The move by Yes Bank comes soon after State Bank of India, India's largest bank declared Mallya as wilful defaulter after negotiations to get him clear Rs 8700 crore of debts to a consortium of 17 banks led by SBI.

Private sector lender YES Bank has signed a memorandum of understand with the London Stock Exchange (LSE) for bonds and equity issuance. The focus of these issuances will be on green infrastructure bonds.

As part of this agreement, the lender plans to list a green bond of up to $500 million on the LSE by December 2016. Apart from this, it plans to raise capital overseas by listing global depository receipts. This is a part of the bank’s overall plan to raise $1 billion of equity capital.

The government’s decision to remove sub-limit restrictions within the overall limit of 74 per cent of foreign direct investment for private sector lenders is seen as a positive for banks such as Axis Bank and YES Bank that have lower foreign investment. Foreign investment in HDFC Bank, however, is close to the overall cap of 74 per cent, and will not gain much because of the move.

Yes Bank Ltd, on Thursday reported a 26.5% increase net profit during the July-September quarter at Rs 610.4 crore, compared to a year earlier, helped by an increase in net interest income and stable asset quality.

The Mumbai-based private lender’s operating income grew 24.7% during the fiscal second-quarter to Rs 1091.1 core, it said.

Private sector lender Yes Bank today said it has started operations from its IFSC banking unit at the Gujarat International Finance Tec City (GIFT).

The bank in a regulatory filing said that "...Pursuant to the approval received from the Reserve Bank it has operationalised its IFSC Banking Unit in the GIFT City."

Last year, Yes Bank Ltd realized that managing one million customers across India wasn’t an easy task, especially when pursuing a goal of increasing its mobile banking user base to five million in five years.

Moreover, India’s fifth-largest private sector bank, with 630 branches across 375 cities, couldn’t ignore the customer shift to mobile banking while planning its strategies to enhance customer experience across branches. Hence, as part of its “DIGICAL-Digital + Physical” strategy—the blending of both offline and online channels leveraging innovation and technology—it began looking for a digital partner to build a scalable platform to host multiple applications.

Private sector lender Yes Bank on Monday said it has got the Reserve Bank's approval to set up a mutual fund, asset management company (AMC) and a trustee company.

In a regulatory filing, Yes Bank said it "has received an approval from the RBI to sponsor a mutual fund, and to set up an asset management company and a trustee company." It further said: "In its twelfth year of operation, as Yes Bank accelerates into its next phase of growth, this new business initiative will provide further acceleration to Yes Bank's differentiated product offerings.

Goldman Sachs on Tuesday upgraded private lenders Axis Bank, ICICI Bank and YES Bank to ‘Buy’ from ‘Neutral’ citing attractive entry after recent underperformance on bad loans concerns.

Axis Bank, ICICI Bank and YES Bank closed 2.67 per cent, 1.12 per cent and 0.28 per cent lower at Rs 482.75, Rs 269 and Rs 729.35, respectively, on Tuesday.

Ajay Bodke: If one is betting on a revival in investment cycle, the banks that have gotten severely drubbed are essentially Axis Bank, ICICI Bank and Yes Bank. If one is willing to take a medium term perspective, the corporate focussed banks are the ones which are going to see the maximum reduction in the provisioning levels and also the upgrade in terms of the assets which have been classified as NPAs, so as and when the interest rate falls, economic revival will happen.

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