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MUMBAI (Reuters) – The recent drop in Indian lender Yes Bank Ltd’s (NS:) stock price does not reflect the bank’s performance and it remains on a solid financial footing, Chief Executive Ravneet Gill said on a conference call on Thursday.
“The operating metrics of the bank, the performance of the bank is absolutely sound,” Gill said.
“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.”
The move to reassure investors comes after the bank’s stock this week plunged nearly 23% on Tuesday to its lowest close in over a decade, as fraud allegations against a housing finance company that Yes Bank has exposure to, spooked investors.
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