Conceived with a vision of creating a high-quality, customer-centric, service-oriented and knowledge-driven financial institution to cater to India’s growth sectors and future industries within the SME sector, Yes Bank is an emerging banking institution. Yes Bank has a different outlook towards SMEs altogether, as compared to other banks. The bank focuses on specific industry verticals and caters to their specific financial needs.
India’s fourth largest private-sector bank, Yes Bank has successfully completed 7.5 years, with a strong national footprint of over 350 fully-operational branches across 200 Indian cities, with over 600 ATMs.
The bank has a well-defined focus towards SMEs, Rana Kapoor, founder and CEO, Yes Bank said. “At Yes Bank, it is our constant endeavour to regularly update the fast-growing SME sector with the latest developments and new opportunities.”
Yes Bank understands the role of SMEs as an important part of the supply chain for larger businesses in almost every industry sector. The bank majorly focuses on SMEs in industry sectors like communication, banking and services, the fastest-growing segments, with maximum involvement from large corporates. Other SME segments focused on by Yes Bank are healthcare, hospitality, education, transport and IT.
“The Indian services sector is fast moving towards better technology services. These businesses are increasingly being supported by SMEs, either as strategic outsourcing partners or indispensable supply chain component providers,” says Kapoor.
“One of the main areas where India has achieved significant growth is life sciences, with the pharmaceutical, biotechnology and medical devices segments growing at a compound annual growth rate (CAGR) of nearly 20 per cent over the last five years,” says Vishal Gandhi, Senior Vice President and Head – Life Sciences Knowledge Banking, Yes Bank.
A majority (approximately 65 per cent) of the Indian life sciences industry consists of SMEs. With this large untapped potential, there is a strong need for these companies to be brought together on a common platform, to facilitate co-ordination and co-operation among them.
Unlike other banks, where specific schemes are run to attract SMEs, Yes Bank has a more industry-oriented approach, with a strong understanding of the respective sectors and SMEs in particular.