Moody's affirms Yes Bank's ratings; outlook stable
Updated : September 21, 2018 08:21 AM IST
"Yes Bank's profitability is strong, and Moody's expects that the bank can maintain low credit costs over the next 12-18 months," the global rating agency said in a note.
The overall issuer rating, accordingly continues to stand at Baa3, it said, adding that all the other ratings on the bank have been affirmed.
The bank informed last evening that the Reserve Bank of India (RBI) had curtailed the term of Rana Kapoor, its promoter, chief executive and managing director, till January 31, 2019, and asked the board to find a replacement. The 61-year-old Kapoor owns over 10 percent in the bank.
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