Banking & Finance
Worst-performing bank stock is now seeing world’s biggest surge
(Bloomberg) –India’s Yes Bank Ltd., the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month.
Its shares have rallied about 50% — the biggest gain among global peers valued at more than $1 billion — after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised fresh capital and lower bad loans. The surge helped pare the annual loss in the Mumbai-based lender’s shares to 63%.
The recovery will be a relief for new Chief Executive Officer Ravneet Gill, who’s been courting investors to revive the bank. India’s billionaire investor Rakesh Jhunjhunwala this month bought shares of Yes Bank, after the lender announced a binding offer from an unidentified global investor to inject $1.2 billion.
Read: World’s Most-Loved Megabank Is Surrounded by a Lending Crisis
Gill is rushing to raise funds. Latest results released this month show Yes Bank swung to a loss in the September quarter and its bad-loan ratio rose.
“Capital is of utmost importance to the bank and we want the money to be in the bank by December,” Gill told reporters after the results. “Once we get the capital it will run us for 24 months.”
-
Economy1 month agoOMIFCO IPO: Price, Dividends, Subscription Dates and Listing – Here’s Everything You Need to Know
-
Magazines1 month agoOER May 2026 Edition: The Digital Copy
-
News3 weeks agoINVESTIGATION: Why Nokia Could Matter More in the Quantum Age Than It Ever Did in Mobile
-
Investment1 month agoWhy Are Tech Stocks Rising Again – And Is It Too Late To Invest In Them?
-
News3 weeks agoINVESTIGATION: Is AI in a Bubble? Inside the Trillion-Dollar Question Reshaping Global Markets
-
Magazines1 month agoSignature Oman: May 2026 Edition
-
Banking & Finance2 months agoOman Arab Bank marks successful listing of $400mn AT1 Bond on London Stock Exchange
-
Economy3 weeks agoOMIFCO Successfully Completes Bookbuilding & Sets Final IPO Offer Price
