Business

Yes Bank Story so far – Find out the TRUTH – Kapur Vs Kapoor

yes bank story

Yes Bank Story so far! (a long thread)

A very crisp time line of yes bank debacle. For further clarity RBI has banned Yes bank from Cheque clearing system during moratorium period.

Here is a nice thread for chronology of yes bank.

2003

Rana Kapoor (with 2 Os) & Ashok Kapur (with an U) start Yes (not a no) Bank.

Kapoor is very aggressive while Kapur is conservative.

RBI likes Kapur but not Kapoor.
2008

Kapur dies in a terrorist attack. (May he Rest In Peace).

Kapoor goes berserk.
2008 – 2017

Kapoor to himself, “Kabhi kabhi lagta hai apunich bhagwan hai”.

Kapoor starts giving loans at higher interest rates to bad people & companies.

He takes upfront loan fees from them. Uses this money to run the Bank.

Kapur & Kapoor families get into a big fight
2017

Kapoor becomes a billionaire. Bloomberg says to Kapoor, “Jahapanah! Tussi great ho!”.

But the RBI is not happy with Kapoor’s Bank. (RBI is never happy).

RBI starts spying on Yes Bank.
September 2018

RBI says, “Rishte me toh hum tumhare baap lagte hai aur naam hai RBI.”

RBI orders Kapoor to get out & Yes Bank to find a new CEO.

Yes Bank Story

Yes Bank’s shares tank & it loses shit load of money.
September 2018 (..cont)

Kapoor (still in Bhagwan mode) tweets, “All good. I love Yes Bank. I will never sell my shares.”

Rating firm CARE Ratings gives Yes bank a very bad rating. (this rating is more important than your Uber rating)
October 2018

Kapoor asks RBI for some time. RBI refuses.

Yes bank’s profit misses estimates by a huge margin.

Bank says it gave a loan to a bad company. Yes bank is in deep shit!

Yes bank has candidates for the CEO’s job.
November 2018

A chairman, 2 independent directors & an external walk out of Yes Bank.

Yes Bank says, “It is all okay. We are looking for new bosses.”

But Moody’s gives Yes Bank very bad rating (important rating)
March 2019

New CEO. Bank’s shares go up.

(All happy… but wait)

RBI slaps fine on Yes Bank for non-compliance. (This is bad news)
April 2019

Yes Bank in trouble again. This time with SEBI for insider trading.

Revamp of top management.

Quarter Results: Losses losses everywhere!

Macquarie downgrades Yes Bank’s rating (important rating)

Shares plunge after quarterly results were announced.
May 2019

Yes Bank Story

RBI slaps fine on Yes bank for violating money transfer norms. (bad news)

India Ratings & Research & ICRA give Yes bank negative ratings. (important rating)

Ex-RBI guy appointed as a director on Yes Bank’s board.
June 2019

RBI slaps another fine on Yes Bank for PPI norms (RBI really hates Yes Bank)
July 2019

Kapoor takes a loan against his entire stake in the bank.

Shares fall.
July 2019

Kapoor takes a loan against his entire stake in the bank.

Shares fall.
Sep 2019

Kapoor sells some stake in Yes Bank through the open market.
Oct 2019

President quits.
Nov 2019

Yes bank says a Hong Kong investor is ready to give a shit load of money.

Quarter Results: Losses losses everywhere!
Dec 2019

Moody’s gives a negative rating. Shares slump. (told you that this rating is important)

It turns out that Hong Kong investors are in some legal trouble.

People are concerned. They think that Yes bank will merge with an established bank.
January 2020

One more board member resigns & tells SEBI that Yes Bank is doing some bad things.

Yes bank says it will not take money from the Hong Kong investor.

Yes bank says it will not take money from anyone.
March 2020

RBI & the government take the matter in their hands.

RBI tells individuals can not withdraw more than Rs. 50,000 per month from their Bank account.

RBI asks SBI to form a consortium that will buy a stake in Yes Bank.

SBI to announce other members of consortium
Yes bank becomes 2 rupees (face value) bank.

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