Mumbai: Reassuring investors, Yes Bank chief executive officer Ravneet Gill said on Thursday that the recent drop in the bank’s stock price does not reflect the lender’s performance and it remains on a solid financial footing.
“The operating metrics of the bank, the performance of the bank is absolutely sound. We have enough liquidity, we are very stable and the share price movement of recent days should not become a proxy for how the bank gets perceived”, said Gill.
Gill’s statement comes after Yes bank’s stock this week plunged nearly 23% on Tuesday to its lowest close in over a decade.
The next day, Yes Bank said in a regulatory filing that the steep fall in shares was primarily on account of a forced stake sale by a large shareholder.