Yes Bank board approves stock split of 5 for 1

Yes Bank has approved a stock split in the ratio of 1:5. The board of the company approved subdivision of the existing one equity share of Rs 10 each fully paid up into five equity shares of Rs 2 each fully paid up. This decision by the board is further subjected to the approval of the Reserve Bank of India and shareholders or any other applicable statutory and regulatory approvals.
 
Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, Yes Bank, said: “We will shortly be commencing our 14th year of commercial operations one more quarter from now and we remain well on course to achieve our stated objectives for 2020 with yet another quarter of overall satisfactory performance. Our investments in retail franchise are now demonstrating meaningful outcomes with significant momentum through robust CASA growth of 55.2% taking CASA ratio to 36.8% and core retail advances growth of 166%. 
 
“At the same time the bank continues to garner market share in its various corporate and MSME businesses while maintaining superior asset quality parameters. The board is also pleased to approve stock split in the ratio of 5 for 1 and takes this opportunity to thank its shareholders for their valued support.”