There is a lot of speculation on the future of private sector Yes Bank in the crisis of capital.
SBI On Yes Bank Future
There is a lot of speculation on the future of private sector Yes Bank in the crisis of capital. Meanwhile, Rajneesh Kumar, chairman of State Bank of India (SBI), the country’s largest state-run bank, has come up with a big statement. He has said that a solution can be found soon regarding Yes Bank. According to Bloomberg, Rajneesh Kumar says that Yes Bank is a big player in the market. It seems to me that the bank will not be allowed to drown. Let me tell you that last month, Rajnish Kumar had said that we do not have enough capital to buy Yes Bank.
Yes Bank is still struggling with the capital crisis. The bank had prepared a plan to raise funds in the past, it is still under question mark. Rajnish Kumar says that the balance sheet of Yes Bank is close to $ 4000 million. It is a big player in the market. I do not think it will fail. Yes Bank’s problems will be solved soon. At present, after the statement of Rajnish Kumar, it is believed that the government which controls SBI can soon ask SBI to do something in this matter.
Yes Bank shares 80% broken in 1 year
In the last one year, negative news has been dominating in Yes Bank. Whether it is about capital crisis or management. Due to these reasons, the bank’s stock has lost 80 percent in the last 1 year. During this time, the bank’s share fell from around 200 rupees to near 40 rupees. In October last year, the stock price had fallen below Rs 30. During this time, there have been increasing concerns about the asset quality of the bank. At the same time, there is also uncertainty regarding fund raising. Although the bank management is constantly trying to raise funds.
SBI had earlier denied
In December last year, two top bank officials of the country had described Kotak Mahindra Bank as the most suitable for acquiring Yes Bank, which is struggling with capital crisis. In an event, State Bank of India Chairman Rajnish Kumar said that I believe Uday Kotak is the most suitable person to acquire Yes Bank. A lot of capital is needed for this, which Udayan has. Axis Bank Managing Director and Chief Executive Officer Amitabh Chaudhary said that we (Axis Bank) are small banks. We are trying to ensure that we become big banks so that we can acquire other banks at some stage. Our place Uday Kotak is more right for this.