Homeeconomy News

    Career timeline of Yes Bank co-founder Rana Kapoor

    Career timeline of Yes Bank co-founder Rana Kapoor

    Career timeline of Yes Bank co-founder Rana Kapoor
    Profile image

    By CNBC-TV18  IST (Updated)

    Mini

    Here's a timeline of Rana Kapoor's career as one of India's leading banking professional and head of the fourth largest private sector bank

    After Reserve Bank of India (RBI) curtailed the tenure to Rana Kapoor, the founder, managing director (MD) and chief executive officer (CEO) of Yes Bank, CNBC-TV18 look back on Kapoor's long banking career.
    Here's a timeline of Rana Kapoor's career:
    • Born in 1957 in New Delhi, Rana Kapoor completed his schooling and college from the national capital.
    • Kapoor graduated in economics from Shri Ram College of Commerce in 1977 and went on to obtain an MBA degree from Rutgers University in 1980.
    • Kapoor started as a management trainee in Bank of America in 1980, and eventually rising through the ranks to head the firm's wholesale banking business.
    • Kapoor left Bank of America in 1995 to join ANZ Grindlays Investment Bank as general manager and country head. He worked there until 1998.
    • He served as the CEO and MD of Rabo India Finance (RIF) between 1998 and 2003, successfully spearheading the company as a foreign joint venture financial services organisation in partnership with Rabobank, which was rated AAA in India.
    • Kapoor sold his shareholdings to Rabobank, Netherlands, in early 2003, generating seed capital for his Yes Bank.
    • Kapoor and team was granted a banking licence by the RBI to set up Yes Bank in 2003. Rana Kapoor held 26 percent stake in Yes Bank, according to a report on rediff.com.
    • Yes Bank was listed in the domestic stock exchanges post its IPO in May 2005 at an issue price of Rs 45. Bank's shares have surged 25.5 times in about 13 years generating 28 percent compound annual growth rate (CAGR) returns.
    • Yes Bank chairman and co-founder, Ashok Kapur, was discovered dead in Mumbai’s Trident Hotel, which was under terrorists' siege for several hours in the infamous November 2008 Mumbai terror attack. Ashok Kapur's widow, Madhu Kapur inherits his shares in Yes Bank.
    • Since 2014, Madhu Kapur and her children are embroiled in a court battle with Rana Kapoor to secure certain legal rights in Yes Bank. A Bombay High Court judgement gave relief to Mahdu Kapur and children. The ruling was appealed in the Supreme Court, where it's still sub-judice.
    • Rana Kapoor owns 10.7 percent in Yes Bank along with other family entities, while Madhu Kapur (Ashok Kapur's wife) owned 7.6 percent, as on June 30, 2018.
    • In June this year, Yes Bank shareholders had approved Kapoor's re-appointment as the MD and CEO of the bank, subject to RBI's approval. The bank had sought the central bank's permission to re-appoint Kapoor for a period of three years, starting September 2018. While RBI had approved bank's proposal to retain its chief executive a month later in August, it had not specified the exact period of his tenure.
    • On August 31, Yes Bank had said it had received RBI’s approval for continuance of Kapoor as MD and CEO until further notice from the central bank.
    • Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
      arrow down

        Most Read

        Market Movers

        View All
        CompanyPriceChng%Chng