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Business Companies 28 Sep 2018 Will never sell my s ...

Will never sell my shares in Yes Bank, says CEO and MD Rana Kapoor

PTI
Published Sep 28, 2018, 4:19 pm IST
Updated Sep 28, 2018, 4:19 pm IST
The RBI recently asked Rana Kapoor to quit the post by January next year.
Yes Bank's founder and CEO Rana Kapoor
 Yes Bank's founder and CEO Rana Kapoor

Mumbai: Yes Bank's founder and CEO Rana Kapoor, who has been asked by the RBI to quit the post by January, said on Friday that he will not sell his shares in the bank even after demitting office.

Kapoor holds 4.34 per cent shares in the bank. "In this leadership transition at @YESBANK, I continue to remain fully committed to the interests of the Bank and all its stakeholders.

 

I will be fully guided by the Board of Directors of YES BANK and the Reserve Bank of India," he said in a tweet. In another tweet, Kapoor said, "I will never ever sell my @YESBANK shares" even after demitting office as managing director and CEO of the bank.

Rana Kapoor along with his brother-in-law Ashok Kapur had founded the bank in 2004. The RBI recently asked Rana Kapoor to quit the post by January next year. The bank's board, however, has sought more time from the RBI till September for a suitable successor.

Kapoor futher said: "I will eventually bequeath my @YESBANK Promoter shares to my 3 daughters and subsequently to their children, with a request in my Will stating not to sell a single share, as Diamonds are Forever!!". Shares of the Yes Bank closed at Rs 183.90, down 9.50 per cent on the BSE.

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