Private sector lender Yes Bank has zeroed in on two banks as possible acquisition targets and could execute the buy-out in 2009-10.With bank valuations still at reasonable levels and not expected to increase in the medium-term, an acquisition would certainly be attractive, said Rana Kapoor without giving the names of the two banks in its radar.
Recently, HSBC Bank hiked its stake in the bank to 4.88 per cent, which Kapoor termed as "a purely financial investment".While Kapoor remained tight-lipped, the banking industry grapevine feels Karnataka Bank, Karur Vysya Bank and Kerala-based Catholic Syrian Bank, Federal Bank and South Indian Bank could be potential acquisition targets.
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