Yes Bank Ltd: Care improves the credit ratings of YES Bank bonds

Mumbai: Care upgraded AAA's AAA AAA credit rating for infrastructure bonds and Tier II bonds. It has also improved the bank's rating on perpetual and third-party AA + AA bonds. The rating upgrades reflect the "robust financial performance, creditworthiness, and growing share of current account and savings (CASA) as well as retail deposits," Yes Bank said in a statement.

"This Care Ratings rating reflects Yes Bank's business model of sustainable growth, coupled with strong risk management policies, proven track record of quality preservation." badets and management focused on execution. team. This improvement will further reduce our cost of borrowing in the future, "said Rana Kapoor, CEO of Yes Bank, in a statement.

This upgrade comes as other lenders, especially from the public sector, are fighting against non-performing badets. Care is considered adequate capitalization, sound profitability, comfortable badet quality, improved funding profile and a comfortable liquidity profile for the upgrade.

Earlier this week, Yes Bank received final regulatory approval from the Securities & Exchange Board of India to begin its mutual fund business immediately. This approval follows a nod from the Reserve Bank of India a few months ago.
"Yes Asset Management India (YAMIL) will complement Yes Bank's retail liabilities and wealth management strategy, and will also enable YAMIL to leverage the Bank's" DIGICAL "distribution network to to provide customers with a consistent banking and financial experience In keeping with the spirit of Yes Bank, YAMIL will be built on a foundation of robust technology infrastructure, outstanding human capital and first-rate processes to deliver services. of the highest quality to its investors, "said Kapoor.

YAMIL plans to launch fund offers on the debt and equity markets over the next 6 to 12 months. The bank also recently received Sebi's final license to launch its securities custodian and is about to open representative offices in London and Singapore.