Private sector lender, Yes Bank is gearing up aggresively to grow its business and compete strongly in the banking sector. The bank plans to raise as much as Rs 1,500 crore tier II capital in this fiscal.

"We should raise Rs 1,500-crore of upper tier II and lower tier II capital by March 2011," YES Bank's Managing Director and CEO, Rana Kapoor said.

The capital raised would be used for financing growth sectors like infrastructure and agriculture, said Kapoor.

Talking about plans to raise equity, he said, "our core capital position is quite healthy. We have already raised $225-million in January so we don't need money at least for one year."

"The bank has consistently achieved record profits, and for the first time achieved an over Rs 150-crore of net profit for the quarter ended June 30, 2010, on the back of a strong credit growth of 107.2 per cent YoY and steady margins with net interest margins (NIMs) stable at 3.1 per cent," Kapoor added.