Laborers clean windows near signage for Yes Bank Ltd. at the Indiabulls Finance Centre in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

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.

It’s Not The Worst Year For Yes Bank Despite 50% Tumble

Also read: ICRA Joins Moody’s In Downgrading Yes Bank On Corporate Governance Concerns

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.

It’s Not The Worst Year For Yes Bank Despite 50% Tumble

Also read: Should The Web Of Rana Kapoor’s Family Businesses Raise Eyebrows?

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