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Our Bureau

Mumbai , June 9

THE Netherlands-based Rabobank is expected to retain 20 per cent stake in Yes Bank, after the Initial Public Offer, said Mr Rana Kapoor, Managing Director and CEO.

Yes Bank's IPO will open on June 15 and close on June 21.

Rabobank's stake will come down to 14 per cent after the issue but it will regain 20 per cent through a combination of IPO and market purchases, Mr Kapoor said at a news conference today.

The Reserve Bank of India had approved Rabobank's plans to retain 20 per cent stake, he added.

Prior to setting up Yes Bank, Mr Kapoor and the other promoter, Mr Ashok Kapur, had set up Rabo India Finance Private Limited. "Rabobank has seen our track record with Rabo India Finance. Besides, Yes Bank's performance in the last 15 to 18 months has validated its interest," said Mr Kapoor.

For future growth, the bank plans to focus on business banking and the SME sector, said Mr Kapoor.

"Business banking will be our key value driver. It will contribute 35-40 per cent of our growth," Mr Kapoor said.

In the retail segment, the bank plans to focus on short-term loans like personal loans, said Mr Ajay Mahajan, President - Financial Markets and Private Banking.

Mr Kapoor said the bank posted a net profit of Rs 61 lakh for the half-year ended March 31, 2005.

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