Business Standard

Moody's affirms Yes Bank's ratings, financial performance to remain stable

Yes Bank's capital improved post a capital raise from private investors in 2022, Moody's said

Yes Bank

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Press Trust of India New Delhi

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Moody's Investors Service on Friday said it has affirmed Yes Bank's ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months.
The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at 'Ba3', with a stable outlook.
"The rating affirmation and stable outlook is driven by the improvement in India's macro profile to 'moderate+' from 'moderate', along with Moody's expectation that Yes Bank's financial performance will remain stable over the next 12-18 months," Moody's said in a statement.
The agency expects Yes Bank's asset quality to be stable as the bulk of its legacy problem assets have been resolved, while India's good economic momentum will support the performance of its newly originated loans.
The bank's gross non-performing loan ratio declined to 2.2 per cent at the end of March 2023 from 13.9 per cent a year earlier, following its sale of non-performing loans (NPL) to an asset reconstruction company (ARC) in 2022.
Yes Bank's capital improved post a capital raise from private investors in 2022, Moody's said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 23 2023 | 6:02 PM IST

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