Mumbai, 10 July 2026: YES BANK has announced a series of positive rating actions from leading domestic and international credit rating agencies, reflecting the sustained strengthening of its credit profile.
S&P Global Ratings has assigned YES BANK an inaugural long-term issuer credit rating of ‘BB+’ with a Stable outlook – which is consistent with the ‘Ba1’ (Stable) that Moody’s Rating had assigned while upgrading the Bank from ‘Ba2’ in May 2026. In assigning the rating, S&P has factored in expectation of ongoing and extraordinary support from Sumitomo Mitsui Banking Corporation (SMBC), the Bank’s largest shareholder, underscoring the Bank’s strategic importance to the SMBC group. This gives YES BANK a two-agency international ratings profile, with a stable outlook from both global agencies.
On the domestic scale, ICRA upgraded the Bank’s long-term ratings on its Infrastructure Bonds and Basel III Tier II Bonds to ‘ICRA AA (Stable)’ from ‘AA- (Stable)’. This follows the recent upgrade by CareEdge Ratings (CARE), which raised the Bank’s long-term ratings to ‘CARE AA+ (Stable)’ from ‘CARE AA- (Stable)’.
Commenting on this, Mr. Vinay M. Tonse, Managing Director & CEO, YES BANK said, “These rating actions from leading global and domestic agencies reflect an independent validation of YES BANK’s strong franchise and the steady progress on the path to profitability that the Bank has been making. The strategic partnership with SMBC, our largest shareholder, further reinforces our foundations of strong governance and long-term stability.”
The agencies have cited the Bank’s improving asset quality, strengthened funding profile and capital position, consistent improvement in core profitability, and the strategic investment by Sumitomo Mitsui Banking Corporation (SMBC) – a global systemically important bank and the Bank’s largest shareholder with a ~24.9% stake – as key factors supporting the actions.
He further said, “S&P’s assignment of ‘BB+’, consistent with Moody’s ‘Ba1’, underscores the growing confidence of international stakeholders in our credit profile, while the upgrades from CARE and ICRA reflect our steady progress on asset quality, capital and profitability. We remain focused on deepening our deposit franchise, serving our customers, and delivering sustainable growth.”
About YES BANK:
YES BANK is one of the leading new generation private sector banks in India, headquartered in Mumbai. The Bank offers a wide range of banking services such as Corporate & Institutional Banking, Retail Banking, MSME, Transaction Banking and Treasury. The Bank has over 1300 branches, 200+ Business Correspondent Banking Outlets (BCBOs) and more than 1350 ATMs (including CRMs and BNAs) spanning across 300 districts of India. YES BANK operates an International Banking Unit (IBU) at GIFT City and also has a Representative Office in Abu Dhabi, strengthening its cross-border capabilities.
YES Securities, a subsidiary of the Bank provides a wide range of broking and investment products to Retail, HNI, and Institutional clients. YES Foundation, the CSR arm of YES BANK drives social impact agenda across areas such as livelihoods, education, skilling, sustainability and community development, reinforcing its commitment to responsible and inclusive banking.
