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Yes Bank share price jumped over 8 percent intraday on December 9 after Brickwork Ratings upgraded rating of Tier I Subordinated Perpetual Bonds (Basel II) to BWR BB+/ Stable.
The stock was trading at Rs 18.74, up Rs 1.41, or 8.14 percent at 09:46 hours. It has touched an intraday high of Rs 18.90 and an intraday low of Rs 18.03.
The rating upgrade factors in improvement in capitalisation ratios of the bank, strong shareholder base and experienced board members.
“The rating upgrade factors in improvement in capitalisation ratios of the bank, strong shareholder base, and experienced board members. The bank has a strong shareholder base with State Bank of India holding a 30 percent stake as of September 30, 2020 and the bank has an experienced board of directors with Prashant Kumar as the managing director and chief executive officer (MD & CEO),” Brickwork Ratings said.
Yes Bank on Tuesday said the loan repayments performance by its retail and small business borrowers has been better than expected, and only Rs 300 crore of the Rs 60,000-crore book has applied for the COVID-19-related loan restructuring scheme.
The collection efficiencies at about 95-96 percent right now are back to the pre-COVID-19 levels of 97 percent, its Global Head for Retail Business Rajan Pental said. "Only Rs 300 crore of the overall Rs 60,000 crore of the advances book have opted for loan recast till now," Pental said.
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