Best in class asset quality, strong retail granularity, and a sustainable return ratio -- these are the things we will look at, says Yes Bank's new MD and CEO Vinay Tonse.
Private sector lender Yes Bank reported a 45 per cent increase in its March quarter net profit to Rs 1,068 crore, with its new managing director and CEO, Vinay M. Tonse, signalling the end of its over six-year-long recovery phase and a readiness to align loan growth with the broader banking sector.
What is the reason behind this drying up of talent for the top post in private banks?
Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
'It could tempt investors to pick stocks that are not fundamentally sound.'
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