Yes Bank share price has skyrocketed over 4.5 per cent today and hit Rs 14.55 per stock levels. Zee Business research team is of the opinion that yesterday’s outcome at the AGM of the private lender is the major reason for this rise in Yes Bank shares. It reported that Yes Bank has deposited entire Rs 50,000 crore of the Special Liquidity Facility (SLF) of the Reserve Bank of India (RBI) after depositing Rs 15,000 crore to the RBI on 8th August. Apart from this, the private lender completely defied the news of Yes Bank and SBI merger and said that there is no such official information to the private lender.
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Decoding the outcome of Yes Bank AGM held yesterday and its impact on the Yes Bank share price rally today, Zee Business TV reported, “Within four months of the Yes Bank restructuring scheme, the private lender has managed to return Rs 50,000 SPL assistance of the RBI, which is praiseworthy. The Bank has reported 11.4 per cent jump in deposits in June quarter on QoQ basis. Yes Bank’s CET1 ratio also went up from 6.60 per cent to 13.40 per cent.”
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Zee Business (@ZeeBusiness) September 11, 2020
When shareholders asked about the news spread of Yes Bank SBI merger, the private lender completely denied and said that Yes Bank is yet to get any official information on merger with the SBI. Right now, Yes Bank IS completely focused on increasing its income by boosting its loan book by 10 per cent and 20 per cent in FY21 and FY 22 respectively. By FY22, Yes Bank plans to double its deposit base and increase retail book from 45 per cent to 60 per cent by same time span.