Yes Bank, India's 4th largest private sector Bank, has received credit rating upgrades from CARE Ratings for multiple instruments. This upgrade reflects Yes Bank's robust financial performance, creditworthiness, and increasing share of Current Account Savings Account (CASA) as well as retail deposits.

Rana Kapoor, MD & CEO, Yes Bank, said, "This rating upgrade from CARE Ratings is a reflection of Yes Bank's sustainable growth oriented business model coupled with robust risk management policies, demonstrated and proven track record in asset quality preservation, rapidly growing Branch Banking presence and a strong execution focused management team. This rating upgrade will result in further reduction in our cost of borrowings going forward, and further widens the depositors, stakeholder’s universe of Yes Bank.  In our 14th year of Institutional Excellence, the upgrade is a reaffirmation of Yes Bank's strengths as we work towards achieving our vision of Building the Finest Quality Large Bank of the World in India."

Shares of the bank gained Rs 3.3, or 0.95%, to trade at Rs 352.10. The total volume of shares traded was 28,375 at the BSE (9.21 a.m., Friday).