Thus far in the calendar year 2018 (CY18), YES Bank has underperformed the markets by falling nearly 1.5 per cent, as compared to 0.5 per cent fall in the S&P BSE Sensex and the S&P BSE Bankex
The private sector lender said on Wednesday that the Reserve Bank of India (RBI) had allowed Kapoor to continue only till January 31.
Kapoor's departure might make raising fresh capital, as well as growing deposits and fee income, harder for the Mumbai-based lender, the brokerages said
Kapoor earned the ire of the Reserve Bank of India by wrongly classifying loans he should have counted as nonperforming
Moody's said Yes Bank will continue to outpace the industry in loan book growth, but added that while the capital buffers are adequate for now
The bonds, set to mature on September 15, 2028, carry coupon rate of over 9.11 per cent payable annually
Bank refutes charges, says it has consulted experts who have confirmed that their interpretation of the law was correct and tenable
The bank had also recently raised $400 million through two syndicated loan transactions in Taiwan and Japan
Currently, Yes Bank's retail asset book size is close to around Rs 320 billion
The stock dipped 5% to Rs 322, trading lowest level since April 25, 2018 on the BSE, on back of heavy volumes.
Shares of YES Bank dipped 7% to Rs 338 on the BSE in early morning trade, its lowest level since July 4, 2018.
Private sector lender Yes Bank today said it has received RBI's approval for continuance of Rana Kapoor as MD and CEO of the bank till further notice from the central bank. In June this year, Yes Bank's shareholders had approved the re-appointment of Rana Kapoor as the chief executive and managing director for three years, subject to final approval from the Reserve Bank of India. "We wish to inform you that the Bank has received the RBI's approval that Rana Kapoor may continue as Managing Director & CEO of YES Bank till further notice from RBI," the bank said in a regulatory filing. Kapoor is the Founder, Managing Director and CEO of Yes Bank. Prior to establishing Yes Bank, Kapoor was CEO and Managing Director, and main Managing Partner of Rabo India Finance (RIF) (a corporate finance and investment banking organisation). Yes Bank was incorporated in November 2003 under the Companies Act, 1956 and received the certificate of commencement of business on January 21, 2004.
Bata India, Berger Paints, Britannia Industries, Page Ind, Godrej Consumer, L&T Infotech and L&T Technology Services hit new highs today.
At 01:44 pm; with market capitalisation of Rs 840 billion Bandhan Bank, was stood ahead of YES Bank, which has m-cap of Rs 838 billion, the BSE data shows.
The deposit and credit grew at 42 per cent and 53 per cent respectively in the full-year period
In past four months, the stock of YES Bank outperformed the market by surging 34%, as compared to 13% rise in the S&P BSE Sensex till Wednesday.
The company took a mark-to-market loss of Rs 926.7 million in the first-quarter
Sources said the AMC had zeroed in on Soni to head its MF operations
Getting the right people would be key; ex-CEO of DHFL Pramerica MF Suresh Soni in the running to head Yes AMC
Shares of YES Bank hit new high of Rs 386 per share, rising 2% on the BSE.