Yes Bank is targeting to increase the proportion of retail deposits on its books to 60% in three years as it expands its appeal to consumers to take on its bigger rivals. The bank, one of India’s newest, has previously focused on providing loans and deposits for wholesale clients and businesses.
Yes Bank’s retail deposits, including low-cost current and savings accounts (CASA), contributed about 45 percent to total deposits in the past quarter. That is more than double a level of 20 percent three years ago.
