Date:24/06/2008 URL:

http://www.thehindubusinessline.com/2008/06/24/stories/2008062451070600.htm
Back YES Bank focusing on advisory services
L.N. Revathy
Coimbatore, June 23 YES Bank is constantly on the look out to identify gaps in the
market and develop them, according to Mr Somak Ghosh, Group President (Corporate
Finance & Development and Knowledge Banking).
Mr Ghosh was referring to the four key advisory services such as the specialised
group for food and advisory services, strategic initiative group, project advisory and
syndication group and social investment banking group.
Stating that such advisory services were not necessarily offered by banks, he said
Take for instance, the food and advisory services group. We offer entry advice, help
find joint venture partners, offer guidance for setting up food parks, modernisation of
agri-terminal markets and so on. We compete with professional advisory services firm
such as KPMG, Ernst & Young. Given our sector focus, there is less competition. We
recognised the gap for these services in the market, leapfrogged to grab the opportunity
by targeting specific groups. Reiterating the need to be competitive, he said We are a
knowledge focused bank. We strive to add value to our clients and stakeholders. Given
the diversity of our product lines and revenue stream, we are well-positioned,
considering the challenges in the present business environment.
The bank is hoping to achieve revenue of over $10 million from across the advisory
services group.
Product offering
He, however, pointed out that YES Banks role and responsibility ended with creating a
business structure. After that, the clients board can decide on financial
structure/accommodation. These are not trades, but strategic decisions and can be
carried only subject to (clients) board approval, he clarified.
According to Mr Ghosh, MNCs, corporates, public sector undertakings and financial
institutions sought the banks help for such services.
Our product offerings are customised. We provide products based on industry and
financial understanding. There are no rigid norms or ring-fenced structures, he said.
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