ICRA upgrades Yes Bank bond ratings to AA with Stable outlook
YESBANK · price
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ICRA upgraded Yes Bank's Infrastructure Bonds and Basel III Tier II Bonds from AA- to AA with Stable outlook. Rationale cites improved financial profile, rising share of granular loans, better asset quality (gross NPAs at 1.3%, net NPAs at 0.2%), and SMBC's 24.9 percent stake acquisition in September 2025 making it the largest shareholder. Profit after tax rose to Rs 3,476 crore in FY2026 from Rs 2,406 crore. Tier I capital ratio stands comfortable at 13.78 percent. Basel III Tier I bonds reaffirmed at D as these were already written down. Ratings on matured bonds withdrawn.
Positive for shareholders. Rating upgrade signals stronger financial health and institutional backing from SMBC, supportive of stock sentiment. Supreme Court ruling on AT-1 bond writeback remains a key monitorable risk.