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Private lender Yes Bank<\/a> has implemented a hiring freeze<\/a> and is also looking at cost optimisation on its branch network, said CFO Anurag Adlakha<\/a> in an interaction. Yes Bank during its FY20 results announcement had said it targeted minimum 5% savings in FY21 through \u201ccost optimisation and productivity transformation backed by Digital and Analytics.\u201d During FY20, the cost-to-income ratio of the bank stood at 65.2%.<\/p>\n Adlakha on Manpower costs<\/a> which amounted to Rs 2691.32 crore during FY20 said \u201cOne is the outsourced headcount on which we are taking a very close look to rationalise and the second is our own headcount,\u201d The CFO, without specifying a time-frame, said Yes Bank had implemented for a hiring freeze, noting \u201cwe have natural attrition to play through the rest of the year and we will not be replacing these people unless and until it is an absolute niche role which needs to be replaced,\u201d As of March 2020, Yes Bank had 22973 employees on its payroll.<\/p>\n The CFO on the cost optimisation aspect said \u201cOn the cost side, the areas we would be looking at would be in terms of optimising the footprint of branches as well as premises<\/a> rationalisation both on branch space and office space,\u201d Yes Bank in FY20 had spent Rs 37.80 crore on premise costs, and currently has 1135 branches and 1423 ATMs across the country. The lender also has two corporate offices in Mumbai and Delhi, and one representative office in Abu Dhabi.<\/p>\n Yes Bank is currently seeking Rs 15000 crore in a further public offering (FPO) which it said would be used to boost its CET1 ratio whilst also taking care of its growth requirement for a period of two years. The bank in an exchange filing said the FPO through the fresh issue of equity shares will have an offer size of upto Rs 15000 crore, of which Rs 200 crore is reserved for \u2018eligible\u2019 employees.<\/p>\n<\/div>\n