YES Bank: World's worst-performing bank stock posts globe's biggest surge

India's Yes Bank Ltd., the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month.

Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised fresh capital and lower bad loans. The surge helped pare the annual loss in the Mumbai-based lender’s shares to 63 per cent.

Yes Bank rose about 3 per cent as of 9:48 a.m. in Mumbai on Monday, while the