Mumbai, October 01, 2018: The ratings assigned to various debt instruments of YES BANK have been put on ‘credit watch with developing implications’ by CARE Ratings on account of the recent communication from the Reserve Bank of India (RBI) restricting the tenure of the current Managing Director and Chief Executive Officer (MD & CEO) Mr. Rana Kapoor, till January 31, 2019.
The Senior and Tier II instruments issued by the Bank, which were upgraded to CARE AAA with Stable Outlook from CARE AA+ on July 05, 2018, now carry a rating of “CARE AAA (credit watch with developing implications)”.
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About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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