|Bid||38.45 x 0|
|Ask||38.45 x 0|
|Day's range||38.00 - 39.10|
|52-week range||29.05 - 285.90|
|Beta (5Y monthly)||0.92|
|PE ratio (TTM)||N/A|
|Earnings date||23 Oct 2019 - 29 Oct 2019|
|Forward dividend & yield||2.00 (5.17%)|
|Ex-dividend date||04 Jun 2019|
|1y target est||413.27|
(Bloomberg) -- Yes Bank’s shares and dollar bonds plunged after an independent director resigned citing corporate governance concerns at the lender.Uttam Prakash Agarwal said in a phone interview that he resigned on Friday, citing what he described as deteriorating standards of corporate governance and compliance failures. He blamed the bank’s Chief Executive Officer Ravneet Gill and other senior executives for the alleged failings.Yes Bank shares fell 5.4% in Mumbai, the biggest drop in a month. Its 3.75% dollar notes due February 2023 declined 4.7 cents on the dollar to 79.9 cents, the biggest plunge in over three months, prices compiled by Bloomberg show.Agarwal’s claims will be examined, Yes Bank said in a filing confirming the resignation. The lender’s board is meeting Friday to discuss raising funds to bolster capital to provide for a surge in bad loans.To contact the reporter on this story: Rahul Satija in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Andrew Monahan at email@example.com, Jeanette Rodrigues, Arijit GhoshFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
The practice exposes the Reserve Bank of India to all kinds of potential conflicts it would rather avoid. The eventual solution may be to let the country’s 10th-largest bank by market value get swallowed by a bigger balance sheet. Yes Bank’s problems started two years ago, when the regulator forced it to disclose that nonperforming loans were $630 million more than the $113 million reported in the company’s audited accounts for the year ended in March 2016.