Yes Bank received a significant confidence boost from Moody’s Ratings on Friday, as the global credit agency upgraded its long-term foreign and local currency bank deposit ratings from Ba3 to Ba2. The move reflects a steady enhancement in the bank’s credit fundamentals, including improved capital buffers, higher loan loss reserves, and better asset quality metrics. The bank’s gross non-performing loan ratio dropped sharply to 1.6% by March 2025, while its provision coverage rose to 80%.