Hot Pursuit     23-Apr-20
Yes Bank slips after three private lenders pare stake
Yes Bank fell 1.01% to Rs 29.30 after three private lenders sold small parts of their stake within two weeks of making the investment.

The highest number of shares was sold by Federal Bank, followed by Kotak Mahindra Bank and IDFC First Bank.

Federal Bank sold 5.86 crore shares of Yes Bank between 17 March and 31 March. It held 1.92% stake in the bank as on 31 March 2020 as against 2.39% stake as on 17 March 2020.

Kotak Mahindra Bank sold 4.72 crore shares of Yes Bank between 17 March and 31 March. It held 3.61% stake in the bank as on 31 March 2020 as against 3.98% stake as on 17 March 2020.

IDFC First Bank sold 4.02 crore shares of Yes Bank between 17 March and 31 March. It held 1.67% stake in the bank as on 31 March 2020 as against 1.99% stake as on 17 March 2020.

State Bank of India (SBI), Axis Bank, Bandhan Bank and Housing Development Finance Corporation (HDFC) have not sold any shares and therefore, there was no change in the stake held by them in Yes Bank.

ICICI Bank has purchased 78,300 additional shares after 17 March, although its stake has remained unchanged at 7.97%.

Yes Bank was under moratorium for 13 days in March 2020. It resumed full-fledged banking operations from 18 March 2020. This came after a consortium of eight public and private banks, led by State Bank of India, agreed to infuse capital into Yes Bank to rescue it from the brink of a collapse. These financial institutions had together pooled in Rs 10,000 crore as investment at Rs 10 per share in Yes Bank when it faced pressure from depositors.

The private lender reported a net loss of Rs 18,560.31 crore in Q3 December 2019 as compared to a net profit of Rs 1,001.85 crore in Q3 December 2018. Total income in the December quarter stood at Rs 6,268.50 crore, down by 29.2% from Rs 8,849.81 crore reported in the same period last year.

Yes Bank is a full service commercial bank' providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.

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