Chandigarh, Aug 20: The Members of YES BANK have approved all the 7 Resolutions with an overwhelming majority, during the Bank’s 22nd Annual General Meeting held through Video Conferencing / Other Audio Visual Means on Wednesday, August 19, 2026. The outcome reflects a summation of remote E-voting and voting through electronic means at the AGM.
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Ordinary Business |
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Adopted:
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Approved the appointment of Mr. Shivakumar Dega (DIN: 00364444), who retired by rotation, and being eligible offered himself for re- appointment. (Ordinary Resolution) |
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Approved the appointment of M/s. MSKA & Associates LLP, Chartered Accountants (ICAI Firm Registration No. 105047W/W101187) as one of the Joint Statutory Auditors and fixed the overall remuneration of the Joint Statutory Auditors. (Ordinary Resolution) |
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Special Business: |
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Approved the material related party transactions with State Bank of India and modification(s) thereto. (Ordinary Resolution) |
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Approved the material related party transactions with Sumitomo Mitsui Banking Corporation and modification(s) thereto. (Ordinary Resolution) |
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Approved the raising of funds by way of issuance of eligible equity securities (Special Resolution) |
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Approved the borrowings / raising of funds by way of issuance of eligible debt securities. (Special Resolution) |
Speaking on the occasion, Mr. Rama Subramaniam Gandhi, Non-Executive, Part-time Chairman, Independent Director of YES BANK said,
Distinguished Shareholders, Members of the Board, and Colleagues,
On behalf of the Board of Directors, and the Bank’s leadership team, I am pleased to welcome you to the 22nd Annual General Meeting of YES BANK. It is a privilege to present to you an account of the Bank's performance during what has been a year of significant institutional progress.
Fiscal year 2025-26 will be remembered for progressive transformations across the pillars that truly define an enduring financial institution: governance, capital strength, stakeholder confidence, and operational discipline. The steady arc of our growth trajectory today reflects the compound effect of decisions taken with patience, executed with precision, and grounded in the belief that trust, once rebuilt, becomes the foundation for sustainable value creation.
The Indian economy delivered a robust 7.7% GDP growth during the year, supported by a resurgence in private consumption, favorable monetary conditions, and structural policy support. The RBI undertook a calibrated easing cycle, reducing the policy repo rate cumulatively by 125 basis points since February 2025 to 5.25%, alongside liquidity infusion. This policy support translated into strong consumer demand, improving credit conditions, and a revival in private capital expenditure. Despite this domestic resilience, the global environment remained challenging with ongoing conflict in West Asia, geopolitical fragmentation, and trade policy uncertainties weighing on growth. The IMF projects global growth to moderate to 3.1% in 2026. Looking ahead, India remains the fastest-growing major economy, with the RBI projecting GDP growth at 6.6% for FY 2026-27, providing a supportive backdrop for the Bank's continued expansion.
YES BANK reported a Net Profit of INR 3,476 crore during FY 2025-26, its highest annual profitability since reconstruction, reflecting a 44.5% growth over FY 2024-25 - a direct outcome of disciplined execution and strategic clarity. The Bank exited Q4 FY 2025-26 at an annualised Return on Assets (RoA) of 1.0%, with a full year RoA expanding to 0.8% from 0.6% in FY 2024-25. Total deposits crossed the landmark INR 3 lakh crore mark, with Retail and Branch Banking deposits contributing 58.4% and growing at 13.5% Y-O-Y, outpacing both the industry (10.2%) and private sector banks (11.4%). CASA balances crossed the milestone of INR 1 lakh crore. The Bank's Advances book rose to INR 273,445 crore, registering 11.1% Y-O-Y growth, underpinned by strong disbursement momentum across segments. Borrowings declined 9.4% Y-O-Y to INR 64,864 crore, aided by a sustained reduction in RIDF-related balances, as the Bank achieved
another year of NIL shortfalls across all key Priority Sector Lending (PSL) sub-categories. There was a sustained improvement in the asset quality, with Gross NPA improving to 1.3% and Net NPA declining to 0.2%, among the lowest levels in the industry. Net Interest Margin expanded to 2.6%, supported by a reduction in cost of deposits and the run-down of high-cost borrowings. The Bank's capital position remains robust, with a 15.3% Capital Adequacy Ratio (CRAR) well above regulatory requirements.
Two developments during the year have fundamentally strengthened the Bank's institutional positioning. First, the entry of Sumitomo Mitsui Banking Corporation (SMBC) as the Bank's largest shareholder, with a 24.9% stake. SMBC is part of the Sumitomo Mitsui Financial Group, one of the world's leading financial institutions and a Global Systemically Important Bank. This partnership brings not just capital, but strategic value—enhanced capabilities in corporate banking, governance practices, risk frameworks, and access to cross-border business opportunities. State Bank of India continues as a significant shareholder with a 10.8% stake, and we remain grateful for their enduring support.
Second, the Bank's fundamentals received independent validation through multiple credit rating upgrades. In a strong validation of the Bank's improving credit profile and governance standards, international credit rating agency, Moody's upgraded the Bank's long-term issuer rating to Ba1 (Stable), while S&P Global Ratings assigned an inaugural international issuer credit rating of BB+ (Stable). On the domestic front, all rating agencies now rate the Bank at AA or higher with CARE, India Ratings (Ind‑Ra) and CRISIL at AA+ (Stable) and ICRA at AA (Stable).
On sustainability, YES BANK continues to lead as the only Indian bank signatory to the UNEP FI Principles for Responsible Banking. For the fourth consecutive year, the Bank achieved the highest S&P Global ESG score among Indian banks and was the only Indian bank included in the S&P Global Sustainability Yearbook 2026. Through YES Foundation, the Bank advanced its social development agenda, training over 8,000 youth and supporting 21,000+ individuals through entrepreneurship initiatives.
The review of FY 2025-26 would not be complete without acknowledging the individual whose leadership over six years made this progress possible. Mr. Prashant Kumar assumed charge of YES BANK at a moment of institutional fragility. Through vision, discipline, and unwavering commitment, he rebuilt governance, restored balance sheet health, strengthened risk culture, and most critically, rebuilt stakeholder trust.
As the Bank enters its next chapter under the leadership of Mr. Vinay M. Tonse, the Board is confident that his vision of ‘One YES BANK’ will build upon this strong foundation. The continuity of strategy, combined with fresh perspectives and energy, positions the Bank well for accelerated growth.
As we look ahead, YES BANK is better positioned than at any point in its recent history. The partnership with SMBC, improved credit ratings, strengthening profitability, and robust capital buffers provide a platform for sustainable growth. Our priorities are to deepen customer relationships, maintain disciplined risk management, invest in talent and technology, and deliver consistent, risk-adjusted returns to shareholders.
To our shareholders: thank you for your patience and your trust. Your confidence is the cornerstone of our progress.
