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Yes Bank ‘Absolutely Sound’, Says CEO Ravneet Gill After Shares Slide

Oct 3, 2019

The move to reassure investors comes after the bank’s stock this week plunged nearly 23 percent to its lowest close in over a decade, as fraud allegations against a housing finance company that Yes Bank has exposure to, spooked investors.

Image for representation. (Photo: Reuters)

Mumbai: The recent drop in Yes Bank Ltd’s stock price does not reflect the bank’s performance and it remains on a solid financial footing, Chief Executive Ravneet Gill said on a conference call on Thursday.

“The operating metrics of the bank, the performance of the bank is absolutely sound,” Gill said.

“We have enough liquidity, we are very stable and the share price movement of recent days should not become a proxy for how the bank gets perceived.”

The move to reassure investors comes after the bank’s stock this week plunged nearly 23% on Tuesday to its lowest close in over a decade, as fraud allegations against a housing finance company that Yes Bank has exposure to, spooked investors.

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Source: News18

Published in Business