MUMBAI: The Bombay high court has proposed an amicable settlement to the tussle in the Yes Bank case. The high court has posted the next hearing in the case for May 12.

The Madhu Kapur camp had earlier filed a revised petition before the HC against the appointment of three new whole-time directors. Alleging lack of corporate governance at the bank, the Madhu Kapur faction, whose request for appointment of Shagun Gogia as a director had been rejected by Yes Bank, also sought the court intervention to protect their interest.

The near two-year old court battle between YES Bank and Madhu Kapur may finally come to an end in the Bombay high court on May 12.

On Thursday, the court suggested that both the parties should try and settle the dispute amicably but the final order has been reserved for Tuesday.

Private sector lender YES Bank announced its international foray by launching its first International representative office in Abu Dhabi, UAE.

Here, the bank will provide services for unique investment needs of the Indian diaspora in the Gulf city through their flagship Global Indian Banking program which comprises of NRE/ NRO savings account & fixed deposits, foreign currency fixed deposit and YES First wealth management programme among others.

MUMBAI: Yes Bank is gearing up to become the third Indian bank to have its shares listed on American stock exchanges. The youngest private bank has received a go-ahead from its board to raise up to $1 billion by way of American Depository Receipts or through a Qualified Institutional Placement. The permission follows a proposal to hike investment by foreign investors to 74% of the bank's paid-up share capital from the existing limit of 49%.

Shares of YES Bank were trading higher by 4% at Rs 825, extending its previous day’s 1.5% gain on the National Stock Exchange (NSE), after reporting a 28% year-on-year (y-o-y) rise in net profit at Rs 551 crore for the quarter ended March 2015 (Q4), on back of higher interest income and a healthy growth in advances to retail and small and medium enterprises (SME).

Net interest income rose 36% to Rs 977 crore despite a flat net interest margin sequentially at 3.2%, marginally up from 3% from the year-ago period. The non-interest income grew 32% to Rs 590 crore on yoy basis.

Private sector lender YES Bank today reported a Q4 net profit of Rs 551 crore, an annual rise of 28%.

The asset quality ratios were flat, with net NPA at 0.12% compared to 0.10% in the previous quarter. Gross NPA came in at 0.41% compared to 0.42% in Q3.

YES Bank on Friday launched the RuPay Debit Card, in association with NPCI. It is a domestic debit card and will be accepted at over 190,000 ATMs and one million point of sale (PoS) terminals in the country.

Yes Bank is planning to raise around $100 million from International Finance Corporation (IFC), a project report issued by IFC revealed. The investment by World Bank's investment arm comprises $50 million for a so-called Green Bond and an equal amount for the financing line for women-owned small and medium enterprises (SMEs), the IFC’s project disclosure report said.

This will be the first emerging market Green Bond investment by IFC, the proceeds of which will be lent to eligible climate change finance projects mainly in the renewable energy sector.

Shares of Idea Cellular and Yes Bank have gained up to 1% on the BSE after the National Stock Exchange included these stocks in its benchmark index Nifty. However, these two firms will replace DLF and Jindal Steel & Power in the 50-unit Nifty index which declined up to 1.5% on the BSE.

Mumbai: Idea Cellular Ltd and Yes Bank Ltd will replace DLF Ltd and Jindal Steel and Power Ltd in the benchmark Nifty index , according to a statement issued by India Index Services and Products Ltd, a subsidiary of the National Stock Exchange of India Ltd (NSE).

The changes made by the index maintenance sub-committee are part of its periodic review and will become effective from 27 March, it said. Apart from changes in the Nifty, revisions have been made in 21 other sectoral and theme-based indices of the exchange.

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