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Change Change %
-1.75 -4.50%

Updated:17 Feb, 2020, 15:59 PM IST

Change Change %
-1.75 -4.50%

Updated:17 Feb, 2020, 16:01 PM IST

Dear Shareholder,

The Indian Financial Sector has experienced a challenging business environment over the past one year, consequent to difficult global developments. However, YES BANK has continued its steady GROWTH trajectory, and has had a highly satisfactory business and financial performance for Financial Year 2008–09, clearly the most challenging year in the Bank's evolution. Despite the financial challenges, we have been able to effectively demonstrate our combined abilities and competencies in managing and responding to the impact of the global crisis on the Indian Financial Sector and YES BANK. This gives us further confidence that the terrific resilience and inherent strengths of our young and dynamic Bank will be sustained on a continuous basis, with even greater commitment and dedication in the future years to truly evolve as a WINNER par excellence.

YES BANK has adapted and responded extremely well to the challenging economic environment as has been reflected in our sustained Fiscal Year 2008–09 financial performance. YES BANK's business and financial model leverages our established Relationship Capital, consistent revenue generation, while ensuring highly satisfactory Credit Quality and Service Standards. These results are an outcome of the concerted strategy of our highly dynamic, entrepreneurial and execution focused management team, to relentlessly build the highest quality banking organisation in India. I also thank all our stakeholders for their contribution and support in making this Financial Year highly satisfying.

The sustained growth of our Bank is based on the key pillars of Growth, Trust, Technology, Knowledge Driven Human Capital, Transparency and Responsible Banking. A growing understanding of the need for sustainability in the new knowledge economy framework, has paved the way for a new generation of business leaders involved with the development of the community, and the need for socially responsible investing. YES BANK is committed to be a key partner towards further augmenting societal responsiveness. As part of the Triple Bottom Line approach of 'People', 'Planet', 'Profit', we have integrated the principles of Corporate Social Responsibility and Sustainability as key business drivers within our Bank as well as in the broader context of the Indian financial community.

Our sustainability mission is to propel economic growth through proactive social and environmental engagement across India.

Through a host of corporate citizenship and sustainable development initiatives, we at YES BANK have emerged as a responsible banking entity in India with growing credibility. Our strong sustainability mandate has enabled us to add long–term value to the society, and differentiate ourselves in the marketplace. Our continuous support to cutting–edge initiatives in areas such as New–Age Technologies including renewable energy, Biotech, Nanotech, Sustainable Asset Management, Socially Responsible Investing Research and Advisory, Social Entrepreneurship and Leadership Development is a reinforcement of the same.

Achieving Business Excellence through effective Relationship Management has been at the epicenter of our business strategy. We shall continue to pursue a strategy of steady growth, with consistent execution driven by knowledge banking industry verticals. This year, we have received significant international exposure through our Knowledge Partnerships at various industry forums such as CM, FICCI and PHDCCI, among others. As part of these strategic partnerships, we have authored several Knowledge Reports, in the Agribusiness, Tourism, Pharma, Infrastructure, SME and Sustainability space which were released by the Chief Ministers of States, Commerce Minister of India and France, and Ministers of Agriculture. I firmly believe that our knowledge based differentiation will further fuel–growth with YES BANK catering to the Future Industries of India.

YES BANK has also been recognised amongst the Top and the Fastest Growing Banks in various Indian Banking League Tables by prestigious media houses and Global Advisory Firms. YES BANK has received national and international honours for our various Businesses including Corporate Finance, Investment Banking, Treasury, Transaction Banking, and Sustainable practices through Responsible Banking. The Bank has received several recognitions for our world–class IT Infrastructure, and Payments Solutions, as well as excellence in Human Capital. This year, we have also received several awards and accolades that provide a significant validation of our entrepreneurial and innovative business model in the competitive Indian Banking landscape.

Innovation has been the cornerstone of the success of YES BANK since inception, and we have now been recognised among the World's 25 'Unsung' Innovative Companies by the most prestigious publication – BusinessWeek. The survey was conducted by a team of senior executives from Boston Consulting Group (BCG) across the world. We were the only Bank among the five Indian companies to have received this recognition as one of the 'Most Innovative Company' in the world, in a short span of 5 years. YES BANK was the only Indian Bank to receive the Most Innovative Bank in India award at The New Economy First Annual Banking and Finance Awards 2008, held in London, which were announced in the December 2008 issue of the International Magazine, The New Economy. YES BANK was also ranked as India's No. I Bank (balance sheet size < INR 24,000 crore) in the Business Today–KPMG Best Banks Annual Survey 2008. We have recently become the first signatory to the United Nations Global Compact Society.

YES BANK is focused to become the Bank for EMERGING INDIA, catering to the vast banking needs of our Corporate and Retail Communities. Our achievements over this year and our robust performance are a testimony to the united efforts of the entire team that has insulated us against any significant adverse impact arising from developments in the external business environment. This exceptional growth and unparalleled success is a direct outcome of the efforts of all YES BANKers, and I am certain that with your continued valuable support, YES BANK will emerge even stronger in the future to become India's best private, relationship–driven Banking organization, and steadily achieve our ultimate vision of developing into 'The Best Quality Bank of the World in India'.