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Yes Bank rises on strong loan growth in June quarter

Yes Bank’s shares have fallen more than 5 percent so far in 2022 while the Nifty Bank index has given negative returns of 3.5 percent

Mumbai / July 05, 2022 / 10:43 AM IST
 
 
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Shares of Yes Bank rose on July 5 after the lender reported strong growth in lending operations in the quarter ended June.

The State Bank of India subsidiary’s loan book grew 14 percent year-on-year, and 3.1 percent on quarter, to Rs 1.9 lakh crore in the reported quarter reflecting strong demand for loans in the economy.

Further, the lender saw its deposits grow 18.3 percent year-on-year to Rs 1.93 lakh crore. However, the same declined 2 percent on a sequential basis.

Shares of the lender have underperformed the Nifty Bank index so far in 2022 despite reports of likely induction of strategic investors like Brookfield and BlackRock in the bank as it looks to strengthen its capital base further.

Yes Bank’s shares have fallen more than 5 percent so far in 2022 while the Nifty Bank index has given negative returns of 3.5 percent.

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At 10:32 am, shares of Yes Bank were up 1.2 percent at Rs 12.80 on the National Stock Exchange.
first published: Jul 5, 2022 10:43 am
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