Yes Bank gets first S&P rating at BB+ with Stable outlook

S&P Global assigned Yes Bank its first-ever credit rating: BB+ long-term and B short-term with a Stable outlook. BB+ sits below investment grade, placing the bank in speculative territory. The rating reflects expected extraordinary support from Sumitomo Mitsui Banking Corp, which holds a 24.9 percent stake since 2025. Yes Bank has a modest market share of about 1.2 percent in loans. Return on assets improved to 0.8 percent in FY26 but lags the 1.3 percent industry average. S&P expects gradual improvement in profitability, asset quality, and funding.