Yes Bank shares jump 10% after rating upgrade

Yes Bank shares jump over 10%, hit 52-week high 16.10 on the BSE in early deals on Thursday after rating agency CARE upgraded the bank’s rating assigned to its instruments.

Highlighting the rationale behind the rating upgrade, CARE said “Revision of rating assigned to debt instruments of Yes Bank, stabilization of operations of the Bank with strong growth in CASA and growth in business i.e. advances as well as deposits. Consistent performance includes continued improvement in deposits and profitability during 9MFY22 with stable asset quality parameters amid concerns over Covid-19 related stress.

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