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Yes Bank "Very Stable", Says CEO Ravneet Gill. Shares Surge After 5-Day Fall
03 Oct 2019, 10:40 AM IST 
Yes Bank CEO Ravneet Gill said the private sector lender has enough liquidity
- Yes Bank shares were the top percentage gainer on both benchmark indices Sensex and Nifty, despite continuing weakness in the banking sector.
- On Tuesday, Yes Bank shares had plunged as much as 29.92 per cent before closing at their lowest level recorded in over a decade.
- The next day, Yes Bank said in a regulatory filing that the steep fall in shares was primarily on account of a forced stake sale by a large shareholder. Yes Bank said its "financial and operating metrics remain intrinsically sound and stable".
- Reassuring investors on Thursday, the Yes Bank CEO said the lender has enough liquidity. "We are very stable and the share price movement of recent days should not become a proxy for how the bank gets perceived."
- The statement from the CEO came a day after the lender said its liquidity coverage ratio - a measure of highly liquid assets held by a financial institution - was in excess of 125 per cent as on September 30.
- Financial institutions are required to maintain a liquidity coverage ratio of 100 per cent.
- Yes Bank said on Wednesday that Milestone Trusteeship Services invoked and sold 10 crore of its shares pledged by founder Rana Kapoor.
- Milestone Trusteeship Services is the trustee for an issue of bonds by Yes Bank promoter Morgan Credits Private.
- In a separate filing the previous day, Yes Bank had said Morgan Credits, founder Rana Kapoor and Yes Capital trimmed their stake by 2.16 per cent.
- At 10:36 am, Yes Bank shares traded 23.44 per cent higher at Rs 39.50 apiece on the Bombay Stock Exchange (BSE), outperforming the benchmark Sensex index which was down 0.58 per cent.
