The bank has come a long way financially in the last two years, yet it continues to battle an image problem.
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. …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi