YES BANK Secures Positive Rating Upgrades from Global and Domestic Agencies

YES BANK has announced a series of positive rating actions from major domestic and international credit rating agencies, highlighting the consistent strengthening of the bank’s credit profile. These upgrades serve as an independent validation of the bank’s robust franchise and its steady progress toward sustainable profitability.

International Rating Milestone:
The bank has achieved a two-agency international ratings profile, both maintaining a stable outlook:

S&P Global Ratings: Assigned an inaugural long-term issuer credit rating of ‘BB+’ with a stable outlook. This assessment factored in the expectation of extraordinary support from Sumitomo Mitsui Banking Corporation (SMBC), the bank’s largest shareholder, emphasizing YES BANK’s strategic importance to the SMBC group.

Moody’s Ratings: Maintains a ‘Ba1’ (Stable) rating, which was upgraded from ‘Ba2’ in May 2026.

Domestic Upgrades:
Leading domestic agencies have also reflected the bank’s improved financial standing:

ICRA: Upgraded the long-term ratings on the bank’s Infrastructure Bonds and Basel III Tier II Bonds to ‘ICRA AA (Stable)’ from ‘AA- (Stable)’.

CareEdge Ratings (CARE): Recently raised the bank’s long-term ratings to ‘CARE AA+ (Stable)’ from ‘AA- (Stable)’.

Key Drivers of Growth:
Credit rating agencies identified several critical factors supporting these positive actions:

Improved Asset Quality: The bank has shown consistent progress in managing its asset portfolio.

Strengthened Funding and Capital: Both the funding profile and capital position of the bank have seen significant improvement.

Strategic Partnership: The strategic investment by SMBC, which holds a ~24.9% stake, is recognized as a cornerstone of the bank’s governance and long-term stability.

Core Profitability: The bank has demonstrated a consistent trend of improvement in its core operational profitability.

Mr. Vinay M. Tonse, Managing Director & CEO of YES BANK, noted that these ratings reflect growing confidence from international stakeholders and the bank’s commitment to deepening its deposit franchise and delivering sustainable growth.