Private-sector lender, Yes Bank said that it has been upgraded by MSCI ESG Research to AAA rating from AA rating.
MSCI ESG report has highlighted the key strengths of Yes Bank in financial product safety, corporate governance and financial system instability, the company said in a filing to the Bombay Stock Exchange. Commenting on the development, Yes Bank, Managing Director, Rana Kapoor said, “Yes Bank excels in term of risk management as we are the first bank in India to integrate environmental and social risks into overall credit risk assessment framework, enabling us to proactively mitigate emerging risks and create new opportunities in India’s sunrise sectors.”
According to the filing the AAA rating reaffirms Yes Bank’s 360-degree risk framework which includes pertinent ESG parameters and underscores the Bank’s ability to proactively mitigate emerging risks and create new opportunities in India’s sunrise sector.
Meanwhile, shares of the bank were trading at Rs 1191.5 apiece, down 0.10 per cent from the previous close at 12:57 hours on BSE.