Yes Bank, India’s fourth largest private sector Bank, is reportedly planning to strengthen its retail credit portfolio by entering into credit card business. The bank has a customer base of 1 million and would look at launching its credit card business once the customer base hits the 1.5-million mark. Currently, the bank is focusing on customer acquisitions aggressively and is confident of reaching the mark soon.
The bank’s net profit for first quarter ended June 30, 2014 rose by 9.64% at Rs 439.48 crore as compared to Rs 400.84 crore for the quarter ended June 30, 2013. Its total income has increased by 9.34% to Rs 3105.21 crore for the quarter under review from Rs 2839.97 crore for the corresponding quarter of the previous year.