Has poor marketing let down Yes Bank’s Prashant Kumar?
The bank has come a long way financially in the last two years, yet it continues to battle an image problem.
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Editor's note: There’s no question that Prashant Kumar, managing director and CEO of Yes Bank, has pulled off the unthinkable. He’s turned a bank that didn't have enough liquidity to survive 10 days into a profitable entity within two years of taking charge. When he took the bank's reins in March 2020, it reported a loss in excess of Rs 18,000 crore for the third quarter of fiscal 2019-20, the highest in its history. Its bad loans had been grossly under-reported and its capital had all but been wiped out. Then the COVID-19 pandemic struck, wreaking havoc on the financial sector worldwide. Yet the bank has managed to tide over the multiple crises and is steadily profitable once again. Kumar should have been sitting pretty. But he isn’t. There is a pain point and it’s from a most unexpected quarter. Once a strong point of Yes Bank, its marketing department has been a letdown. “Somehow, the success story of Yes Bank hasn’t gone out the way it should have. There has been no noise around the success story,” says a senior executive …
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