Notwithstanding Rana Kapoor's exit call, Moody's affirms YES Bank's ratings Noor Arora
Moody's Investors Service Thursday affirmed the ratings of Yes Bank, a day after RBI curtailed term of the midsize private lender's promoter chief executive Rana Kapoor. The rating agency has also maintained the outlook on the ratings as stable. "Yes Bank's profitability is strong, and Moody's expects that the bank can maintain low credit costs over the next 12-18 months," the global rating agency said in a note. It added that the growth in both the interest and non-interest income will help the city-headquartered bank maintain "solid profitability". The agency warned that while the bank's current asset quality metrics are strong and superior to that of peers, its "aggressive growth strategy poses asset risks".
ARTICLE SOURCE: BS