Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Banking/  Yes Bank plans $500 million share sale to boost loans
BackBack

Yes Bank plans $500 million share sale to boost loans

Yes Bank plans to wait until it reports earnings later this month before it starts marketing any deal
  • A stock offering would help Yes Bank improve its risk profile and support loan growth after years of rapid growth
  • Premium

    Mumbai/Hong Kong: Yes Bank Ltd. is planning to raise about $500 million through a share sale to institutional investors as it seeks to bolster capital ratios and expand lending capacity, people with knowledge of the matter said.

    The Mumbai-based lender, led by new Chief Executive Officer Ravneet Gill, is talking to potential advisers about the fundraising, said the people, who asked not to be identified because the information is private. The bank plans to wait until it reports earnings later this month before it starts marketing any deal, the people said.

    A stock offering would help Yes Bank improve its risk profile and support loan growth after years of rapid growth. In the latest fiscal year, the bank’s Tier 1 common equity ratio, a key measure of financial strength, fell to the lowest among its major Indian private-sector peers as lending increased.

    A spokesman for Yes Bank didn’t immediately respond to an email and a phone call seeking comment. The ET Now television channel reported the share sale plans earlier Thursday, citing people it didn’t identify.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    This story has been published from a wire agency feed without modifications to the text.

    Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 04 Apr 2019, 05:32 PM IST
    Next Story footLogo
    Recommended For You
    Banking Stocks
    ₹1,053.6-0.5%
    ₹1,440.70.52%
    ₹1,0841.08%
    ₹122.751.3%
    ₹734.052.53%
    Switch to the Mint app for fast and personalized news - Get App