Yes Bank spurts after naming Brahm Dutt as part-time chairman

Yes Bank rose 4.02% to Rs 191.35 at 10:59 IST on BSE after the bank announced the appointment of Mr. Brahm Dutt as non-executive part-time chairman of the board.

The announcement was made on Saturday, 12 January 2019.

Meanwhile, the S&P BSE Sensex was down 224.34 points, or 0.62% to 35,785.50.

On the BSE, 28.79 lakh shares were traded in the counter so far compared with average daily volumes of 34.09 lakh shares in the past two weeks. The stock had hit a high of Rs 192 and a low of Rs 182.40 so far during the day. The stock hit a 52-week high of Rs 404 on 20 August 2018. The stock hit a 52-week low of Rs 147 on 29 November 2018.

The Reserve Bank of India, pursuant to the provisions of the Banking Regulation Act, 1949, and basis Mr. Brahm Dutt's outstanding credentials and experience, has approved his appointment as part-time chairman of Yes Bank's board up till 4 July 2020 vide its letter dated 11 January 2019.

Brahm Dutt has been on the board of Yes Bank since July 2013 as an independent director, and has contributed to almost all the sub-committees of the board over the past 5.5 years and is currently also the chair of the nomination & remuneration committee.

Yes Bank's net profit fell 3.79% to Rs 964.70 crore on 43.91% rise in total income to Rs 8704.68 crore in Q2 September 2018 over Q2 September 2017.

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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