YES Bank shares climb despite forex card data breach; analysts divided on near-term trend

Shares of YES Bank Ltd traded higher in Thursday's late morning session, even as the private sector lender disclosed a data breach involving its BookMyForex multi-currency forex card. The stock was last seen trading 1.06 per cent higher at Rs 20.96.

In an exchange filing, the bank said, "YES Bank's Multi-Currency Prepaid Forex Card, which was issued in partnership with BookMyForex, observed an unusual increase in transaction decline by the bank’s fraud monitoring system. These unauthorised transactions were attempted on specific BIN numbers only."

It added, "These fraudulent transactions were carried out on 15 merchants that are based out of Latin American Country, in the early hours on February 24, 2026, between 3:30 AM and 8:30 AM (IST). The specific country does not mandate two-factor authentication for e-commerce transactions. As a security measure, the bank has subsequently restricted e-commerce transactions from the specific Latin American Country."

Detailing the financial impact, the lender stated, "The internal investigation by the Bank has revealed that during the incident period transactions approximately equivalent to $0.28 million have been approved on behalf of 5,000 customers. Due to the Bank's monitoring and control mechanisms, 688 unauthorised transaction attempts were declined, which led to safeguarding of approximately equivalent to $0.1 million. The Bank is working with Card Network to raise chargeback to ensure that the impacted customers do not face any financial loss."

On the technical front, a few analysts remained divided on the stock's near-term trajectory.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "YES Bank has been hovering in a cycle of lower lows; the current price is below the 200 DSMA, showcasing inherent weakness. The subzone of Rs 20 is likely to cushion any shortcomings in the near period, while Rs 21.50-22 is likely to act as an intermediate hurdle and a decisive breakthrough could only reinstate buying traction in the counter."

According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "The stock is bullish on daily charts with strong support at Rs 20.57. A daily close above the resistance of Rs 21.3 could lead to a target of Rs 23.90 in the near term."

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted support is seen at Rs 20, while resistance is placed at Rs 21.33. He added that a decisive move above Rs 21.33 could push the stock towards Rs 23, with the expected short-term trading range pegged between Rs 20 and Rs 23.