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Mumbai, July 21 (PTI) Private sector lender YES Bank plans to raise Rs 1,500 crore of debt in the current fiscal, which will help the lender fuel its business growth, a top bank official said here today. "We should raise Rs 1,500 crore of upper tier II and lower tier II capital by March, 2011," YES Bank Managing Director and CEO Rana Kapoor told PTI on the sidelines of a press meet here today. The money will be raised for funding infrastructure growth and agri growth, Kapoor said, adding that it would also provide an opportunity to the bank to provide long-term loans to infrastructure companies. Asked on any equity-raising plans, Kapoor said, "Our core capital position is quite healthy. We have already raised USD 225-million in January, so we don''t need money at least for one year." Yes Bank today reported a growth of 56.26 per cent in net profit to Rs 156.4 crore for the quarter ended June 30 on the back of good credit growth and improved margins. The bank had posted a net profit of Rs 100.1-crore during the corresponding quarter of the previous fiscal. The bank also reported an increase of 28.38 per cent in total income during the first quarter to Rs 883.03 crore, against Rs 687.85-crore during the year-ago period. MORE PTI AP JJ AMA ARV.
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