YES Bank Chairman Speech

Dear Shareholders,

The Global economy’s cyclical upswing continued to intensify in 2017. In line with this, the Indian economy continued to gain momentum, aided by decisive policy decisions taken by the Government of India in the last few years. India’s economic prospects for FY19, therefore, appear promising.

To support the acceleration in the economy, revival of India’s banking sector will need to keep pace with it. The process of resolution of the asset quality pressures and NPA issues, which has got streamlined through the Insolvency and Bankruptcy Code (IBC) framework, is likely to witness material progress in the days ahead.

Revival apart, banking itself is changing radically and changing fast. The banking sector has become increasingly tech-driven. YES BANK initiated this change three years ago and is at the forefront of digital transformation. It is a matter of satisfaction that

YES BANK was the first Bank in India to successfully implement innovation in Supply Chain finance using Block chain and API (Application Programming Interface) Banking.

Recently, Mr. Saurabh Srivastava retired from the Bank’s Board owing to the completion of his term and Ms. Debjani Ghosh resigned from the Board due to her preoccupation on account of her joining the NASSCOM as Executive President. I would like to thank them for their valuable contribution to YES BANK’s Board over the years. YES BANK also appointed Mr. Subhash Chander Kalia, Mr. Rentala Chandrashekar and Dr. Pratima Sheorey on the Board of the Bank. We look forward to their contribution towards the growth of the Bank. The current Board of the Bank comprises of 9 Directors, including 6 Independent Directors, strengthening the Bank’s governance commitment.

All of these building blocks rest on a deeper foundation - the TRUST that your Bank has earned from its customers and other stakeholders. The coming year will be an important one for YES BANK.

We will work ceaselessly along with all stakeholders to ensure a successful journey in the mission of “Building the Finest Quality Large Bank of the World in India” sooner than later.

Ashok Chawla

Non-Executive Independent Part-time Chairman