With the inception of Yes Bank, Dr. Kapoor not only implanted the seed of progression and advancement in the Indian banking set up, but he also completely modernized it. It surely was not easy and there were a lot of obstacles in the journey, overcoming it all, he kept on working diligently and left no stone unturned.
As the saying goes “Success doesn’t come overnight. It requires focus and perseverance.” Rana Kapoor, former CEO & Managing Director of Yes Bank, is a self-made man, hailing from an upper middle class family in Delhi, who went on to make a name for himself and left several imprints in the world of banking. The small dream he had while working as a management trainee in the Bank of America turned into one of the most successful private banks in India.
With the inception of Yes Bank, Dr. Kapoor not only implanted the seed of progression and advancement in the Indian banking set up, but he also completely modernized it. It surely was not easy and there were a lot of obstacles in the journey, overcoming it all, he kept on working diligently and left no stone unturned.
It is not an unknown fact that Rana Kapoor fancied the banking sector and dreamt of making a career in it since his early years. After completing his graduation from Shri Ram College of Commerce, University of Delhi, he went on to pursue MBA from Rutgers University in New Jersey, US. Kapoor received an honorary fellowship from All India Management Association (AIMA), President’s Medal from Rutgers University, and an honorary Ph.D. from GB Pant University of Agriculture and Technology.
An extremely hardworking man with a knack for numbers and finances, he started working as a management trainee at the Bank of America (BoA), and rose through the ranks during his 16-year long stint. Dr. Kapoor also worked as the General Manager & Country head at ANZ Grindlays Investment Bank (ANZIB) from 1996 till 1998. During his early years in the financial sector, he worked with multiple world class corporate, government and financial institution clients and created an unmatchable network in the corporate sector.
In 1998, Rana Kapoor decided to embark on an entrepreneurial journey; he joined hands with his brother-in-law, Ashok Kapur and Harkirat Singh to launch Rabo India Finance, an NBFC in partnership with Rabo Bank from Netherlands. After working for more than two decades in the corporate sector, he was determined to set up something of his own. Rana Kapoor took a huge risk when he founded Yes Bank in 2003. At that time, the Indian Banking industry was nowhere near Kapoor’s world class, reformed vision. Kapoor made a place for himself at the country’s billionaire club table while it was still the forte of family- owned businesses, usually conglomerates.
Along with being ranked as India’s fourth largest private sector bank, Yes Bank turned out to be the first and the only Indian Bank to be selected as an Index component on the Dow Jones Sustainability Indices (DJSI)- Emerging Markets Index, for four consecutive years. The Emerging Markets Index for 2018 comprised 94 companies from 14 emerging economies, including China, Brazil, South Africa and Taiwan.
Among 50 global banks, Yes Bank is the only Indian bank included in the DJSI family. The selection process includes the world’s largest 3500 companies, which underwent a rigorous assessment on-600 data points across Economic, Social & Environmental parameters.
In the year 2008-09, India witnessed an economic recession. It proved to be one of the harshest times for the whole business community. Rana Kapoor emerged as a savior in the moment of need when he offered loans and took risks that no other banker in the league was inclined to do. Dr. Kapoor made a mark as an unconventional banker finding opportunities in adversity and soon became the ‘lender of choice’ by showing faith in the Indian business community and extending help when companies were stuck in a hard place. By making bold decisions, employing excellent marketing strategies and taking measured risks, he elevated Yes Bank to new heights. He and his bank have won innumerable awards. In 2011, Bombay Management Association felicitated him as the Entrepreneurial Banker of the decade.
Having founded and spearheaded the bank for 15 years, Yes Bank saw unprecedented growth and thrived making it the most valuable private bank in India.
Source: Mid-Day
