Private lender YES Bank's Board will consider raising funds on 21 December via issue of equity shares, depository receipts or other modes, the company said in an exchange filing.
The company said that the existing approval of the shareholders is valid till 28 February, 2022.
YES Bank shares were down 1.82% to settle at ₹13.50 apiece on NSE.
Ratings agency Moody's has recently upgraded YES Bank's rating to B2 from B3, and changed the outlook to positive from stable.
The agency said the upgrade reflects Moody's expectation of a further improvement to the bank's credit profile, driven by a cleanup of legacy stressed assets and improvements to its capital and profitability.
Moody's further said because YES Bank's funding and liquidity have substantially improved in the past year, which have strengthened depositor and credit confidence in the bank.
The rating action also reflects the fact that despite the significant economic challenges since the onset of the pandemic, Moody's said, adding that YES Bank's asset quality has deteriorated only modestly while its capital has remained stable.
YES Bank has reported a net profit of ₹225 crore in the September quarter, as compared to ₹129 crore in the year-earlier quarter.
Meanwhile, net interest income was down 23% to ₹1,512 crore on a year-on-year basis though non-interest income registered a sharp jump of 30% to ₹778 crore.
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YES Bank Board to consider raising funds on 21 December - Mint
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