Mid-sized lender Yes Bank has named Amit Sanan, the new group president and country head of mid-corporate banking.
According to the bank, Amit would be responsible to drive growth of business in the key knowledge banking sectors apart from focusing on various digital banking solutions, cross sell and granular transaction banking. He would also be responsible to develop and deepen key corporate relationships at 30 locations across the nation. The motive largely remains to increase the Life cycle banking business along with assets and liabilities.
Sanan has over 20 years of experience in commercial banking, structured financing and relationship management. Around 300 relationship managers across the nation from the team of Emerging corporate banking and commercial business banking will now be reporting to him.
This move was made soon after their recent foray into credit card market. The bank is plans to sell credit cards to even external customers, i.e. ones who do not have an account with Yes Bank, so as to achieve its ambitious target of acquiring 5 million customers by 2020.
Pralay Mondal, senior group president for retail and business banking of the bank, said that the bank does not believe in the concept of internal or external customers and therefore credit card will play a key role in their customer acquisition plans. If the bank achieves its target of controlling up to 18% of the industry by spends with its five million active card users, it will be third biggest player in the market.