INSUBCONTINENT EXCLUSIVE:
Yes Bank CEO Ravneet Gill said the private sector lender has enough liquidity
Yes Bank chief
executive officer Ravneet Gill said on Thursday that the private sector lender remains on a solid financial footing, and the recent fall in
the share price does not reflect its performance
Yes Bank shares - after shedding 42.91 per cent in the past five sessions - spiked more than 29 per cent and were on course for their best
single-day gain in six months
"The operating metrics of the bank the performance of the bank is absolutely sound," said Mr Gill on a conference call with investors early
Here are 10 things to know about Yes Bank shares:Yes Bank shares were the top percentage gainer on both benchmark indices
Sensex and Nifty, despite continuing weakness in the banking sector.On Tuesday, Yes Bank shares had plunged as much as 29.92 per cent before
closing at their lowest level recorded in over a decade.The next day, Yes Bank said in a regulatory filing that the steep fall in shares was
primarily on account of a forced stake sale by a large shareholder
Yes Bank said its "financial and operating metrics remain intrinsically sound and stable".Reassuring investors on Thursday, the Yes Bank CEO
said the lender has enough liquidity
"We are very stable and the share price movement of recent days should not become a proxy for how the bank gets perceived."The statement
from the CEO came a day after the lender said its liquidity coverage ratio - a measure of highly liquid assets held by a financial
institution - was in excess of 125 per cent as on September 30.Financial institutions are required to maintain a liquidity coverage ratio of
100 per cent.Yes Bank said on Wednesday that Milestone Trusteeship Services invoked and sold 10 crore of its shares pledged by founder Rana
Kapoor.Milestone Trusteeship Services is the trustee for an issue of bonds by Yes Bank promoter Morgan Credits Private.In a separate filing
the previous day, Yes Bank had said Morgan Credits, founder Rana Kapoor and Yes Capital trimmed their stake by 2.16 per cent.At 10:36 am,
Yes Bank shares traded 23.44 per cent higher at Rs 39.50 apiece on the Bombay Stock Exchange (BSE), outperforming the benchmark Sensex index
which was down 0.58 per cent.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
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