Yes Bank Ltd shares rallied 11% on Friday after its December quarter earnings were announced in what could almost be termed a relief rally.

After a clutch of peers such as ICICI Bank Ltd and Axis Bank Ltd reported a jump in bad loans following a central bank review, Yes Bank’s asset quality numbers seem sterling even in absolute terms, leave alone relatively to others.

Private sector lender YES Bank reported a 25 per cent increase in net profit in the October-December 2015 quarter to Rs 675.7 crore from Rs 540 crore in the year-ago quarter, on the back of robust growth in net interest income (NII) and higher other income.

NII, difference between interest earned and interest expended, grew 27.3 per cent to Rs 1,157 crore. Other income - treasury gains, income from fees, commission etc — expanded 39 per cent to Rs 746 crore in the quarter under review. While there was slight pressure on asset quality, gross non-performing assets (NPA) at the end of the December 2015 quarter stood at 0.66 per cent, compared to 0.42 per cent in the year-ago period.

Yes Bank, India's fifth-biggest private sector lender by assets, reported a better-than-expected 25% increase in quarterly profit, and said it expected full-year credit costs to be at the lower end of its guidance range.

The bank said it saw credit costs at maximum 50 basis points for the fiscal year ending March, compared with its previous guidance of 50-70 basis points.

London: Private sector lender Yes Bank Ltd aims to list up to $500 million green bonds on the London Stock Exchange Plc (LSE) by December and has tied up with the UK’s exchange group on debt and equity issuance.

Yes Bank has also formalized the memorandum of understanding (MoU) signed with the LSE during Prime Minister Narendra Modi’s visit to the UK in November to develop bond and equity issuance, with particular focus on the relatively untapped sector of green infrastructure finance.

State-run Canara Bank and private lender Yes Bank on Thursday announced raising Rs 1,500 crore each by issuing Basel III compliant tier-II bonds.

"Bank has successfully raised Rs 1,500 crore of Basel-III compliant tier-II bonds. The issue was closed on December 31, 2015," Yes Bank said in a regulatory filing.

Lingering concerns over the passage of GST Bill in the ongoing Parliament’s winter session and factors such as interest rate hike worries by the US Federal Reserve next week, falling commodity prices, funds outflow by foreign institutional investors and bleak global cues dragged the key benchmark indices over 2 per cent down for the week ended December 11. This week Sensex and Nifty fell 593.68 points and 171.45 points to 25,044.43 and 7,610.45, respectively.

During the week, Cairn India (down 9.80 per cent), Punjab National Bank (down 8.60 per cent), Vedanta (down 8.50 per cent), Coal India (down 8.20 per cent) and YES Bank (down 7.60 per cent) slid the most in the Nifty pack.

McDowell Holdings, a unit of Vijay Mallya-led UB Group, on Wednesday said private lender Yes Bank had invoked shares of United Breweries Ltd (UBL) which formed only 0.16% of its holding.

Clarifying on reports that Yes Bank Ltd (YBL) had invoked shares worth Rs 778 crore accounting for 3.02% stake in United Breweries pledged by McDowell Holdings, the company said the invoked shares are actually worth Rs 39.48 crore only.

Private sector lender Yes Bank today said it has signed loan agreements worth $265 million with OPIC and Wells Fargo to support small business growth in India.

"Yes Bank has signed an agreement with Overseas Private Investment Corporation (OPIC), the US government's Development Finance Institution, for debt financing of $245 million to increase lending to micro, small and medium enterprises (MSMEs) in India," Yes Bank said in a regulatory filing.

Yes Bank Ltd has sold 3.02% of pledged shares of Vijay Mallya in United Breweries Ltd that is valued at Rs 770 crore as banks tighten their hold on the liquor baron for not clearing loans raised to run the defunct Kingfisher Airlines.

The move by Yes Bank comes soon after State Bank of India, India's largest bank declared Mallya as wilful defaulter after negotiations to get him clear Rs 8700 crore of debts to a consortium of 17 banks led by SBI.

Private sector lender YES Bank has signed a memorandum of understand with the London Stock Exchange (LSE) for bonds and equity issuance. The focus of these issuances will be on green infrastructure bonds.

As part of this agreement, the lender plans to list a green bond of up to $500 million on the LSE by December 2016. Apart from this, it plans to raise capital overseas by listing global depository receipts. This is a part of the bank’s overall plan to raise $1 billion of equity capital.

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