Yes Bank stock jumps 13% as HDFC Bank Group secures RBI nod to acquire 9.5% stake

In Q3FY24, Yes Bank reported a 349.7 percent rise in net profit to Rs 231.6 crore from Rs 51.5 crore in the previous fiscal. Operating profit for the same period grew 5.4 percent to Rs 864 crore in the quarter ending December 2023.

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26 Aug, 2025 12:21

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Yes Bank gained up to 13 percent in early trade on the NSE on February 6, a day after HDFC Bank Group received the Reserve Bank approval to pick up stakes in it and five more lenders. At 10:35 am, the Yes Bank stock was trading at Rs 25, up 9.5 percent from the previous close.

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HDFC Bank said in a regulatory filing that the Reserve Bank of India has allowed the group to acquire up to 9.5 percent stakes in IndusInd Bank, Yes Bank, Axis Bank, ICICI Bank, Suryoday Small Finance Bank and Bandhan Bank. The approval for acquiring the stakes is for one year and is intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance, said the filing.

The approval is valid for one year and will be revoked if HDFC Bank Group fails to acquire the stakes within the time.

Also read: HDFC Bank Group gets RBI nod to acquire up to 9.5% stakes in Yes Bank, IndusInd & 4 others

In Q3FY24, Yes Bank reported a 349.7 percent rise in net profit to Rs 231.6 crore from Rs 51.5 crore last fiscal. Operating profit for the same period grew 5.4 percent to Rs 864 crore.

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