Here we’re not talking about any celebrity or any scandal but a lender who has seen it all in past 25 months. It has incurred all the losses one could imagine, especially in the past two years. It is still fighting with all the odds. Here we are talking about one but the YES BANK. Last month it incurred a total of 5% loss and 20% loss to n the previous four months. And if we see the overall yearly percentage, it has incurred over 73% loss. Check out everything you need to know about it.
YES, Bank is making the headlines recently. Not for the right reasons this time. Since last year the company faced downfall and couldn’t get up until now. What’s even? Worse is that now even the SBI nominee has resigned the post from the bank and after that, the company fell 3% more with the shares. On 28 October the bank released some official data and numbers to understand the downfall in the company. And we could see the extreme the bank is suffering. The investors are highly disappointed.
The most important numbers were that the total income this year is approximately Rs 128 crore which is 600 crores less than last year’s. Going by analyst projections and recommendations, one should avoid the stock for now. Investing in companies now were already many companies are incurring the losses to an extreme. We don’t suggest you invest in stock or shares for the moment.
All The Losses
Talking about the current situation, Yes bank is facing. The last thing we could remember from the session is the stock traded 1.6 per cent lower at Rs 12 on Thursday. It has been incurring the losses for the 5th consecutive session, and people can’t believe what is just happening with the company. It even quoted a 52-week high price of Rs 87.95 and a 52-week low of Rs 5.55.
They were talking about which investor incurred the most loss. It was Anil Ambani has been the biggest investor of Yes bank for years now. Not like the Ambani cares about losses of few crores. But it has been a devastating time for not only the investors but also the staff members.
Recently the SBI nominee Swaminathan resigned his post due to the October issues. Because the company is facing extreme loss for more than 25 odd months, and God knows until we’ll. He even claimed that he wished that his resignation letter is considered by the board of directors of the yes bank. And he expects that everyone respects his decision well enough because he can’t continue anymore after the effect.
Son after he resigned his post it was claimed that the bank started to fall even more and more. With an average of 3% more loss after that. It is unbelievable for everyone that after incurring 70% loss in a year. It has now faced 3% more downfall. Even the investors are back heading since nobody wants to risk their money in the bank anymore.
The company currently is trying to win profits back again. But all we can see right now is the failures. However, we can’t deny the fact that once it has been one of the most trustworthy profitable can’t as well. What do you think about it?