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YES Bank would continue to focus on organic growth and is not unduly perturbed by the recent Kotak Mahindra Bank-ING Vysya Bank deal, its CEO and Managing Director Rana Kapoor has said.
The proposed absorption of ING Vysya Bank by Kotak Mahindra Bank would catapult the new combined entity to the fourth place in the private sector league table, dislodging YES Bank from the fourth position.
YES Bank will not look to grow through acquisitions although competition may resort to such route for growth, according to Kapoor.
“No.. There is a reason for it. When the economy rebounds, we can grow faster than any other bank. We can then step on the pedal. We are taking a very contrarian approach to what has happened (merger deal in front of us). We have total focus on quality and organic growth”, Kapoor told BusinessLine here.
He was replying to a BusinessLine question on whether YES Bank will in the wake of the Kotak Mahindra Bank-ING Vysya Bank deal announcement reorient its strategy and look at acquisitions for growth.
Kapoor said that the most important thing in banking was quality—Human Resource quality, asset quality, capital quality, management quality and there should be nothing to disturb that.
RBI POLICY
On expectations for the December 2 (policy review), Kapoor said there is a “dovishness” to this upcoming policy.and this should get percolated.
“My expectation is in 2015 we should have 2 per cent reduction (in interest rate)”, Kapoor said.
Given the softening inflation trend, there is wide expectation among industry that RBI Governor Raghuram Rajan will on December 2 cut policy rates.
srivats.kr@thehindu.co.in
Source : Thehindubusinessline
The proposed absorption of ING Vysya Bank by Kotak Mahindra Bank would catapult the new combined entity to the fourth place in the private sector league table, dislodging YES Bank from the fourth position.
YES Bank will not look to grow through acquisitions although competition may resort to such route for growth, according to Kapoor.
“No.. There is a reason for it. When the economy rebounds, we can grow faster than any other bank. We can then step on the pedal. We are taking a very contrarian approach to what has happened (merger deal in front of us). We have total focus on quality and organic growth”, Kapoor told BusinessLine here.
He was replying to a BusinessLine question on whether YES Bank will in the wake of the Kotak Mahindra Bank-ING Vysya Bank deal announcement reorient its strategy and look at acquisitions for growth.
Kapoor said that the most important thing in banking was quality—Human Resource quality, asset quality, capital quality, management quality and there should be nothing to disturb that.
RBI POLICY
On expectations for the December 2 (policy review), Kapoor said there is a “dovishness” to this upcoming policy.and this should get percolated.
“My expectation is in 2015 we should have 2 per cent reduction (in interest rate)”, Kapoor said.
Given the softening inflation trend, there is wide expectation among industry that RBI Governor Raghuram Rajan will on December 2 cut policy rates.
srivats.kr@thehindu.co.in
Source : Thehindubusinessline
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