Page 7 - Yes Bank

Bidders' insistence on 51% stake in Yes Bank may jeopardise stake buy

Bidders' insistence on having a 51 per cent stake in Yes Bank may end up jeopardising the stake buy, an informed source said on Thursday. When asked on whether the deal will go through by the end of this fiscal, the source, who is not authorised to speak to the media, said the deal itself is in a quandary. As per the source, the talks on any deal "are not going anywhere" because of all the bidders' push on the 51 per cent stake. The source explained that the RBI is uncomfortable with a foreign entity owning a 51 per cent stake in a big entity like Yes Bank. There are reports of two bidders being in the fray including Japan's SMBC and Emirates NBD. The suitors are directly speaking with RBI, but the central bank is not amenable on giving the ownership control. At present, the regulations allow for a maximum of 26 per cent stake by an entity in a bank and in cases where it is higher, has set a fixed timeline for getting it down. As per the source, there has been no progress on the

YES Bank removes financial market head Amit Surekha with immediate effect

Sources in the bank said the development does not have any bearing on the financial aspects of the bank. "It was a human resources department decision," a source said

Yes Bank relieves country head of financial markets Amit Sureka from duties

Yes Bank, where Indian lenders collectively own a 34 per cent stake and the State Bank of India (SBI) is the largest shareholder with a 24 per cent interest, has been seeking a new promoter

Yes Bank appoints veteran banker Sumit Bali to head retail business

Bali will join Yes Bank from Aug. 26 and report to executive director Rajan Pental, one of the sources said

SBI may sell 24% stake in YES Bank by March 2025, says report; shares fall

According to a Reuters report, SBI is planning to sell its 24 per cent stake in YES Bank, worth Rs 18,420 crore ($2.2 billion) by the end of March 2025

SBI aims to sell its YES Bank stake worth $2.2 billion by March-end

YES Bank was restructured by the RBI in March 2020 with the help of a consortium of local banks after its financial health deteriorated

Budget 2024 is an economists' Budget, says Citigroup MD Samiran Chakraborty

Focus of Budget 2024 is not restricted to railways, defence and infra, but expands to manufacturing and employment to aid human capital growth, said Citigroup MD at 'Budget with BS: The Fine Print'

YES Bank surges 5% after Q1FY25 profit rises 47%, provisions fall 41%

The jump in the stock price came on the back of strong June quarter results (Q1FY25).

YES Bank Q1 result: Net profit rises 47% to Rs 502 cr as provisions fall

Its provisions declined by 41.2 per cent to Rs 212 crore in Q1 FY25, from Rs 360 crore in the year-ago period. Sequentially, provisions declined from Rs 471 crore in Q4 FY24

NSE tightens margin funding rules, excludes 1010 stocks including Paytm

The NSE has drastically reduced the list of stocks eligible for collateral in margin funding, removing 1,010 stocks, including Adani Power, Yes Bank, and Paytm, effective August 1

Maintaining regulatory balance

Besides depositors, investors in bank securities are important stakeholders, and their interests ought to be safeguarded

YES Bank stock rallies 8% on Moody's rating upgrade to 'positive'

Moody's outlook revision was on expectation of a gradual improvement in YES Bank's depositor base and lending franchise, which will help improve its core profitability over the next 12-18 months.

Stocks to watch, July 11: YES Bank, Glenmark Pharma, Nykaa, SBI, Tata Elxsi

Stocks to watch, July 11: Global rating agency Moody's has revised its outlook on Indian private sector lender Yes Bank from "stable" to "positive"

Investors from West Asia, Japan eying YES Bank's $5 bn stake sale: Report

The Middle Eastern lender is weighing a bid for as much as a 51% stake in Yes Bank, the people said, asking not to be identified as the deliberations are private

Moody's revises outlook on Yes Bank from 'stable' to 'positive'

The rating agency also affirmed Yes Bank's "Ba3" long-term (LT) foreign currency (FC) and local currency (LC) bank deposit ratings

YES Bank denies report on 51% stake sale, calls it 'factually incorrect'

The bank called the news report "factually incorrect and purely speculative" in nature

RBI imposes penalty on YES Bank for not exchanging mutilated notes

RBI imposed a monetary penalty of Rs 10,000

Buzzing stocks, July 3:YES Bank, ZEE, DMart, IEX, Hindustan Zinc, KEC Int'l

Buzzing stocks to watch today, July 3: Avenue Supermarts, the DMart chain of stores' operator reported a provisional standalone revenue of Rs 13,712 crore for the June quarter, up 18 per cent Y-o-Y

Bank of Baroda, Yes Bank, GE Power among top stocks to track on June 21

As of 6:39 AM, GIFT Nifty futures showed a slight increase, trading 7 points higher at 23,589.5 from their previous close

YES Bank slides 3% on GST penalty; brokerage maintains 'Sell' rating

Shares of YES Bank dipped 3.44 per cent at Rs 24.55 a per share on the BSE in Thursday's intraday trade. This came after Yes Bank revealed on Thursday that it has received a service tax demand order