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Yes Bank Shares Jump 12% In Two-days


Shares in Yes Bank have jumped 12 per cent in two days, following comments by SBI Chairman, that the bank would not be allowed to fail.

"Yes Bank is a significant player in the market with an almost $40 billion balance sheet," State Bank of India, Chairman Rajnish Kumar told Bloomberg Television in Davos. "I have a feeling that it will not be allowed to fail," he added.

The shares of the bank added another 5 per cent, following Thursday's jump of 7 per cent. Yes Bank is the nation's fourth largest private sector bank, which is facing headwinds, due to huge non performing assets.

Yes Bank Shares Jump 12% In Two-days

The bank has also not been able to quickly raise capital, which it is in dire need for. There is speculation that it could be a takeover candidate, given the strong brand equity. Names that are floating around, include the likes of Kotak Mahindra Bank and even State Bank of India.

One would really need to wait and watch-out to see, how things pan out at Yes Bank.

At the moment, the stock is on a roll.

Read more about: yes bank shares
Story first published: Friday, January 24, 2020, 11:19 [IST]
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