YES Bank shares fall 13% after Q1 results; ex-CEO Rana Kapoor loses $1 bn

Ex-CEO Rana Kapoor loses $1 billion as shares drop 78% since August; Jefferies cuts lender's price target to Rs 50 from Rs 80

A 78 per cent drop in Yes Bank shares since August has left founder and former chief executive officer Rana Kapoor some $1 billion poorer.

The lender, which late on Wednesday reported earnings that showed its capital buffers had weakened and bad loan ratio widened, plunged 13 per cent on Thursday. That’s contributed to a drop in Kapoor’s net worth to $377 million from $1.4 billion on August 20, according to the Bloomberg Billionaires Index.

Kapoor, 61, built Yes Bank into India’s fourth-largest private lender over the 15 years since he co-founded the firm in 2004, until the central bank