Axis Bank trims stake in Yes Bank

Last week, Yes Bank announced a large loss of nearly 38 billion dollars, which was much larger than market analysts had predicted. However, the private lender’s problems are far from over. According to the Yes Bank shareholding trend available on the official BSE India website — bseindia.com — Axis Bank decreased its Yes Bank interest from 2.39 percent in December 2020 to 1.96 percent in March 2021. Other banks, such as SBI, ICICI Bank, IDFC First Bank, and Bandhan Bank, have retained their stakes in yes Bank.

According to Yes Bank’s most recent shareholding trend (as of March 2021) available on the BSE India website, Axis Bank owns just 1.96 percent of the company. Axis Bank owned 2.39 percent of Yes Bank shares in the December 2020 quarter. Axis Bank sold 10,86,90,427 Yes Bank shares between January and March 2021. Axis Bank currently owns 49,13,10,524 Yes Bank shares, down from 6,0,000,00951 in December 2020, according to the Yes Bank shareholding trend.

However, other banks like SBI, ICICI Bank, IDFC First Bank, and Bandhan Bank have continued with their conviction about the revival of the private lender and kept their stake unchanged in March 2021 quarter.

SBI continues to hold 30 percent of Yes Bank shares while ICICI Bank, IDFC First Bank, and Bandhan Bank‘s stake in yes Bank still at 30 percent, 3.99 percent, 1.15 percent, and 1.20 percent respectively.

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