YES bank to Spend 30% higher on Advertising in FY 24

Mumbai: Yes bank to spend 30 percent higher on advertising activities during FY 24 and would be focussing more on digital advertising, a senior officials said on Tuesday.

The bank had not shared the amount it will be spending. The chief marketing officer Nipun Kaushal said the bank was “tactical” in its spending in the last two years as it got the house in order after being bailed out by peers. In FY24, its advertising spends will be 30 per cent higher than in the previous year, Kaushal told reporters.

The exact spends can vary because the rates can differ at the time of booking properties. The bank's retail franchise has achieved a critical scale and it is at an inflection point now, its executive director Rajan Pental said, adding that the profitability will go higher from here. Kaushal said the marketing campaign which it is embarking on from June 20 and which will last till end of the fiscal year with a “long tail” of digital advertising efforts, is designed keeping in mind the current situation for the bank.