Private sector lender Yes Bank has said on Monday that it will hire a global leadership advisory firm to assist in selection of candidates for its managing director and chief executive officer post. This could be either an external or internal candidate.
After Reserve Bank of India extended current MD & CEO Rana Kapoor’s term only till January 2019, despite the board approving a three-year term, the bank formed a committee, consisting of both external and internal members, to select its next CEO.
The bank said the external members will be finalised by October 7. The lender also said the names of two officials, proposed by the board for executive directors, were sent to RBI for approval. The bank has also said its deposit grew 41% year-on-year till end September, to ₹2.23 lakh crore, and current and savings account ratio in total deposit stood at 33.8% on end September. Its loans grew by 61% y-o-y to ₹2.4 lakh crore, as on September 30.
