Yes Bank shares hit high after appraisals update

Yes Bank share price has surged 9.83% on Tuesday’s trading post appraisals update.

Yes Bank has launched Yes Private Prime Credit Card, for India’s affluent and ultra HNIs. The product is made to provide a differentiated offering with global privileges and experiences across travel, lifestyle, hospitality, dining, entertainment, and wellness.

The credit rating agency said in a statement, “The rating upgrade factors in improvement in capitalization ratios of the bank, strong shareholder base, and experienced board members.”

Additionally, it said, the banks can improve their resource profile, asset quality, and profitability. Moreover, it can maintain comfortable capitalization and it will be a key rating sensitivity factor.

On 4 December 2020, shares of Yes Bank gained for three days in a row and has added 24.17 percent in three sessions from its recent closing low of Rs 15.35 recorded.

Yes Bank is a full-service commercial bank providing a complete range of products, services, and technology-driven digital offerings, catering to corporate, MSME, and retail customers.

The bank reported a net profit of Rs 129.37 crore in the second quarter of 2020 compared with a net loss of Rs 600.80 crore in the second quarter of 2019. Total income fell 28.56 percent year-on-year to Rs 5,952.14 crore in Q2 FY 21 over FY20.

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