Credit rating agency, CARE has assigned ‘AA’ rating to the proposed Tier II Bonds of Yes Bank aggregating to Rs 750 crore.
The rating takes into account steady improvement in the bank’s profitability parameters over past few years, its demonstrated ability to maintain asset quality across business cycle, its robust capital adequacy parameters along with its ability to raise capital at regular intervals to support its business growth.
Recently, ICRA assigned the LAA rating with stable outlook to the Rs 750 crore Lower Tier II Bonds programme of Yes Bank. The rating agency also assigned the LAA- rating with stable outlook to the Rs 750 crore Upper Tier II Bonds programme of the bank.
Yes Bank registered growth of 45.24% in its net profit for the quarter ending on March 31, 2011 at Rs 203.38 crore against Rs 140.03 crore for the quarter ending on March 31, 2010. The bank’s interest earned for the quarter ending on March 31, 2011 expanded by 83.96% at Rs 1222.61 crore against Rs 664.60 crore for the quarter ending March 31, 2010.
