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India's Yes Bank 'very stable', CEO Gill says after stock slide

Published 10/02/2019, 11:50 PM
Updated 10/02/2019, 11:56 PM
India's Yes Bank 'very stable', CEO Gill says after stock slide

MUMBAI (Reuters) - The recent drop in Indian lender Yes Bank Ltd's (NS:YESB) stock price does not reflect the bank's performance and it remains on a solid financial footing, Chief Executive Ravneet Gill said on a conference call on Thursday.

"The operating metrics of the bank, the performance of the bank is absolutely sound," Gill said.

"We have enough liquidity, we are very stable and the share price movement of recent days should not become a proxy for how the bank gets perceived."

The move to reassure investors comes after the bank's stock this week plunged nearly 23% on Tuesday to its lowest close in over a decade, as fraud allegations against a housing finance company that Yes Bank has exposure to, spooked investors.

Latest comments

Why do banks generally are very rigit in approving small loans even against securities provided,by the average individual small borrowers but generally are very flexible in giving huge amounts of loans to big company borrowers in spite of these borrowers having already borrowed or raised alot of borrwings from various sources I simply do not understand the logic of the lenders to overload the borrowers and at the end such lender banks get into trouble by the default of such type of big time borrowers and this same pattern is repeated all the over the world again and again
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