Yes Bank extends gains after naming Ravneet Gill as new CEO

Yes Bank rose 8.39% to Rs 231.80 at 9:39 IST on BSE, extending yesterday's sharp gains triggered by RBI approval to name Ravneet Singh Gill as MD & CEO of the private sector bank.

Meanwhile, the S&P BSE Sensex was up 241.05 points, or 0.67% to 36,436.15.

On the BSE, 37.21 lakh shares were traded in the counter so far compared with average daily volumes of 55.62 lakh shares in the past two weeks. The stock had hit a high of Rs 236.30 and a low of Rs 224 in early deals.

Shares of Yes Bank jumped 8.39% to end at Rs 213.85 yesterday, 24 January 2019.

Yes Bank said that Reserve Bank of India (RBI) has vide its letter dated 23 January 2019 approved the appointment of Ravneet Gill as the MD & CEO of Yes Bank for a period of 3 years from the date of joining. Gill is expected to join the bank latest by 1 March 2019. The appointment will be subject to the approval of shareholders at the ensuing annual general meeting of the bank to be held in June 2019.

The board of directors of Yes Bank have scheduled a special board meeting to be held on Tuesday, 29 January 2019, and will finalize on the delegation of powers for transition management in the interim period commencing from 1 February 2019 until Ravneet Gill assumes office.

Further, Yes Bank announced the appointment of Mr. Maheswar Sahu and Mr. Anil Jaggia as additional directors (independent) with effect from 24 January 2019 for a period of 5 years. The announcement was made after market hours yesterday, 24 January 2019.

Yes Bank's net profit fell 6.96% to Rs 1001.85 crore on 36.3% rise in total income to Rs 8849.81 crore in Q3 December 2018 over Q3 December 2017. The result was announced at the fag end of the trading session yesterday, 24 January 2019.

Yes Bank is India's fourth largest private sector bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in Mumbai.

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