YES BANK Upgraded To 'AAA' With Stable Outlook By CARE Ratings

YES BANK, India's 4th largest private sector bank, has received credit rating upgrades from CARE Ratings for multiple instruments. This upgrade reflects YES BANK's robust financial performance, creditworthiness, and increasing share of Current Account Savings Account (CASA) as well as retail deposits.

Adequate capitalization levels Experienced senior management Healthy profitability, consistently over the last decade Comfortable asset quality relative to other banks, and relatively low exposure to NCLT cases. Improvement in funding profile Comfortable liquidity profile, an improvement over previous years specifically on the reliance on wholesale deposits.

Speaking on the upgrade, Mr. Rana Kapoor, MD & CEO, YES BANK said, "This rating upgrade from CARE Ratings is a reflection of YES BANK's sustainable growth-oriented business model coupled with robust risk management policies, demonstrated and proven track record in asset quality preservation, rapidly growing Branch Banking presence and a strong execution focused management team. This rating upgrade will result in a further reduction in our cost of borrowings going forward, and further widens the depositors, stakeholders universe of YES Bank. In our 14th year of Institutional Excellence, the upgrade is a reaffirmation of YES BANK's strengths as we work towards achieving our vision of Building the Finest Quality Large Bank of the World in India."