Yes Bank said Wednesday the bank has received ratings upgrade from ICRA for its various long term debt programmes. ICRA has upgraded lower tier II bonds from AA (stable) to AA+ (stable). The rating committee of ICRA after giving due consideration to Yes Bank's financial performance and track record has upgraded Yes Bank's long-term debt programmes ratings.

The rating upgrades factor in Yes Bank's continued robust operating performance with its ability to maintain strong asset quality indicators through cycles, improving CASA base with increasing granularity in the liability franchise.

Speaking on the upgrade, Rana Kapoor, MD & CEO, Yes Bank said, ''This ratings upgrade from ICRA is a reflection of Yes Bank's sustainable growth oriented financial model coupled with robust risk management policies, rapidly growing branch banking presence and a strong execution focussed management team. In our 10th year of institutional excellence, the upgrade is a re affirmation of Yes Bank's strengths as we work towards achieving our vision of building the best quality bank of the world in India by 2020.''

Shares of the bank gained Rs 10.15, or 1.76%, to trade at Rs 586.65. The total volume of shares traded was 203,847 at the BSE (11.29 a.m., Wednesday).