It’s Not The Worst Year For Yes Bank Despite 50% Tumble
Yes Bank Ltd. has lost nearly half of its market value, is the world’s worst-performing lender this year and cheapest since 2009. Yet, that’s still not the poorest run for the private bank in a year.
The bank’s shares have fallen as much as 50 percent in 2018, mostly after the Reserve Bank of India denied co-founder and Chief Executive Officer Rana Kapoor another term. Resignation of the three board members and ratings downgrades followed.
Yes Bank is also the worst performer on Bloomberg World Bank Index, a weighted gauge of 151 leading banking stocks in the world. And it traded at the lowest price-to-book multiple in nine years today.
But the private lender had fared even worse during the 2008 financial crisis. That year, the stock had tumbled 75 percent till November end, its biggest decline.
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