Yes Bank Upgraded to Ba3 from B2
Moody’s upgraded Yes Bank from B2 to Ba3, assigning a stable outlook to the Indian bank. The rationale for the upgrade is the improvement of Yes Bank’s credit profile as it plans an equity capital raise from Carlyle and Advent. The deal will fill the bank’s coffers...
Yes Bank Sells Equity Stake to Carlyle and Advent
Yes Bank is selling equity stakes of up to 10% each to global private equity investors Carlyle and Advent International. The lender is raising equity capital of INR 89bn ($1.1bn) through a combination of INR 51bn ($640mn) in equity shares at INR 13.7/share and INR...
ICICI Bank and Yes Bank Both Report Jump in Net Profits
ICICI Bank reported a 55% YoY increase in consolidated net profits to INR 73.9bn ($930mn) during the quarter ended June. The bank’s total income rose to INR 281.3bn ($3.5bn), up 11.3% YoY. Retail loans, Rural loans, and Business banking loan portfolios grew by...
