Under a new management, Yes Bank has overhauled its risk and governance frameworks to save itself from reputational risks and come out as a brand committed to integrity, its chief executive and managing director Prashant Kumar has said. In a message to the bank's shareholders in the annual report, Kumar said the bank is committed to a "culture of accountability" to all shareholders.

Its co-founder and former chief executive Rana Kapoor is alleged to have indulged in dubious loan and disclosure practices. The bank's non-performing assets bloated up, and ultimately resulted in RBI and the government superseding its board in March.

A consortium of financers led by SBI undertook a Rs 10,000-crore bailout and Kumar, a former SBI hand, was appointed first as CEO. "The bank has made significant changes in the risk framework to ensure that impending risks are identified, evaluated, and resolved before these convert into reputational risks," Kumar said.

"We have made foundational changes to strengthen our governance frameworks, identify and mitigate risks, with the objective of creating an authentic, empathetic brand committed to ethical leadership and conducting business with integrity," he added.

More work is to be done on this front, he said, adding that the bank's board and the management are striving to deliver on the expectations of customers, employees, communities, regulators and shareholders. The lender is on a journey of transformation into a "digital bank" and the Rs 15,000 crore capital raising through a follow-on public offer earlier this month was a crucial milestone, he said.

At present, the liquidity profile of the bank is well above the required regulatory norms, he said. Its non-executive chairman Sunil Mehta said a Rs 35,000 crore in special liquidity facility extended by RBI out of a total of Rs 50,000 crore has been repaid by the bank and the rest will also be paid in time.

Kumar said the bank will focus on sustained liability growth, balancing earnings between retail and wholesale, building and monetizing businesses and work on cost optimization.

In FY20, Kumar's predecessor Ravneet Gill was paid an overall remuneration of Rs 5.94 crore, as per the annual report. In a notice to shareholders ahead of the annual general meeting (AGM), the bank has proposed total remuneration of Kumar at Rs 2.85 crore.