Mumbai : Yes Bank scrip tanked by almost 7.50% following concerns over asset quality raised by foreign brokerage UBS. However, the Rana Kapoor-led lender dismissed the concerns, saying the report presents a “distorted picture”. UBS’ sectoral report on stressed exposures identified Yes Bank as the most vulnerable among lenders to a prolonged weak credit cycle and added that consensus may not be ready for a sharp increase in the bank’s credit costs.  In the wake of continued economic sluggishness, the brokerage analysed documents submitted to the Registrar of Companies, which are used by companies to secure loans, and the overall exposure of the banking system analysed stood at USD 100 billion.

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