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9 Out Of 15 World’s Worst Performing Bank Stocks Are Indian

By Staff

The distress in India's banking sector appears to have not yet cooled down. Bloomberg data, on Friday, showed that out of the 15 worst performing banking stocks in the world, nine were listed on the Indian exchanges.


9 Out Of 15 World’s Worst Performing Bank Stocks Are Indian

The performance of the stocks were based on the YTD (yield-to-date) returns. YTD refers to the period from the beginning of the year (1 January) to the present day. It is used as one of the ways to compare the performances of stock on various parameters, for instance, the investment returns was compared in the case of this data released by Bloomberg.

Sl. No.Name of the BankTotal returns YTD
1Yes Bank Ltd-69.60%
2IDBI Bank Ltd-61.33%
3Central Bank of India-52.16%
4Banco BBVA Argentina SA-50.61%
5Bank of India-41.93%
6Grupo Financiero Galicia-41.77%
7RBL Bank Ltd-40.96%
8Unicaja Banco SA-40.78%
9Indian Overseas Bank-40.38%
10Corporation Bank-40.00%
11Oriental Bank of Commerce-38.88%
12QNB Finansbank AS-38.06%
13AIB Group PLC-36.52%
14Allahabad Bank-35.49%
15Swedbank AB-A Shares-35.41%

Yes Bank, which was on top of the list, has suffered over concerns of mounting bad loans and increase in provisions. The stock has crashed 70 percent this year. This week, its losses were accelerated by its exposure to CG Power. Shares of Yes Bank crashed this week after CG Power's risk and audit committee reported of unauthorised transactions carried out by "certain employees" of the company. Yes Bank holds 12.79 percent stake in CG Power and Industrial Solutions Ltd.

IDBI Bank's stock was the worst performer among India's public sector banks, having slumped 61 percent in 2019 for having increased its provisions for bad loans for the seventh straight year in 2018-19. For the June-ended quarter, the lender reported a massive loss of Rs 3,801 crore on account of higher provisions for non-performing assets.

Read more about: banking banking stocks
Story first published: Friday, August 23, 2019, 17:11 [IST]
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