YES Bank Photo: Reuters
Private sector lender YES Bank
has slipped to the 10th position in the league table for most-valued banks.
At the start of the year, the bank was ranked 7th.
However, state-owned lenders Punjab National Bank
(PNB), and Bank of Baroda (BoB) have managed to overtake YES Bank, which shares tanked nearly 30 per cent on April 30 after posting an unexpected loss for the March quarter.
Shares of the lender corrected another 5.3 per cent on Monday, most among Sensex components, after ratings agency Icra downgraded the bank’s long-term ratings.
Currently, YES Bank
is valued at Rs 38,516 crore, down 9 per cent in 2019; PNB and BOB are valued at around Rs 39,700 crore each. YES Bank’s market value is down 57 per cent from its peak of Rs 90,900 crore touched in August last year.