Yes Bank aims to double entire retail assets and liabilities by 2023: Rajan Pental, Global Head — Retail Banking, Yes Bank

Yes Bank is aiming to double its retail assets and liabilities by 2023. Rajan Pental, global head, retail banking, Yes Bank, in an interview with Ankur Mishra, says the bank does not want interest rate to be the catch for a customer to come to the bank and that the focus will be on services. Edited Excerpts:

What are the reasons to focus on retail segment?

The retail segment has the largest opportunity. With the opportunities in the corporate (segment) being limited, you would see that most banks have started focusing on retail. The bank invested in the retail business a couple of years back with a very clear-cut understanding that this is one of the largest businesses for the bank, but the bank was also doing well in other segments. And I think over the years we have created our space and a very clear cut carved out strategy around both liabilities and the assets business. So, 1,150 branches across distribution already in place.

So, this is what happened during the genesis of both strategies, but good part is today we are sitting at a point where each of these product lines have kind of grown well in their own way. So, we are in a wonderful situation to now lift the business, take it to the next level and create a very stable book around these product lines.