Mumbai: Shares of Yes Bank on Friday tumbled over five per cent following uncertainty over the continuation of Rana Kapoor as the managing director & CEO.

The scrip of the private sector lender closed at Rs 343.40 on the BSE, a drop of Rs 18.50, or 5.11 per cent, over the previous finish. Earlier in the day, the counter cracked 6.6 per cent to hit a low of Rs 338.

Shares of YES Bank hit an 8-week low of Rs 338 per share, down 7% in early morning trade on the BSE on the back of heavy volumes.

YES Bank on Thursday after market hours said it has received the Reserve Bank of India’s (RBI's) approval for the continuance of Rana Kapoor as managing director and CEO of the bank till further notice from the central bank.

Private sector lender Yes Bank's first quarter net profit rose 30 per cent on the back of rise in interest and other income as asset quality fell.

The bank's net profit rose to Rs 12.6 billion in the quarter ended June, compared with Rs 9.65 billion in the year-ago quarter. The bank's net interest income, or the interest earned minus interest expended, rose 22 per cent on a year-on-year basis to Rs 22.19 billion.

Private sector lender YES Bank may rope in Suresh Soni, former head of DHFL Pramerica AMC, to spearhead its foray into the Rs 23-trillion mutual fund industry. In early July, Yes Bank announced it had received the go-ahead from Securities and Exchange Board of India to start its mutual fund operations. Yes AMC will become the 43rd fund house to join the MF industry.

Shares of YES Bank were trading 3% higher at Rs 346 per share on the BSE after the bank said that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its mutual fund business.

YES Bank was the top gainer among the S&P BSE Sensex and Nifty 50 stocks at 09:58 am.

New Delhi: Private sector lender Yes Bank and Goldman Sachs on Friday settled a Sebi probe into alleged violation of listing and disclosure norms as well as merchant banker regulations, respectively.

Individually, Yes Bank has paid Rs 40.8 lakh, while Goldman Sachs (India) Securities has remitted Rs 20.80 lakh towards settlement fees, the regulator said in separate orders.

Yes Bank today said it has received approval from market regulator Securities and Exchange Board of India (Sebi) for acting as custodian of securities. Custodian of securities is a licence granted by Sebi to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs).

MUMBAI: Shareholders of Yes Bank on Tuesday approved the reappointment of Rana Kapoor as MD & CEO of the bank for a further period of three years effective September 1, 2018.

The reappointment was one of the thirteen resolutions approved by the shareholders and is subject to final approval by the RBI.

Rana Kapoor is seeking shareholder approval for another term as chief executive officer of Yes Bank Ltd., the Indian lender which has set records for both loan growth and the highest proportion of disputed bad debt among its top private-sector peers. Shareholders are due to vote Tuesday on whether to grant another three-year term to Kapoor, who has helmed Yes Bank since 2004.

Chennai: After tasting success with its fintech accelerator, Yes Bank is now set to launch multi sector accelerator program.

YES SCALE will offer a 15 week program for startups in the areas of smart city, clean tech, Agritech, Lifesciences tech and education tech.

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