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A loss of 600 crores in Q2FY20 jolts Yes Bank

Private Sector Lender Yes Bank Reported A Net Loss Of ₹600 Crore In The Quarter Ending September 30, Hurt By A One-Time Deferred Tax Adjustment Of ₹709 Crores On Account Of Change In Corporate Tax Rate Regime. Excluding This Impact, Adjusted Net Profit Was At ₹109 Crore.

Sequentially, Gross NPA As A Ratio Of Total Advances Rose To 7.39% In September Quarter As Compared To 5.01% In The June Quarter. Net NPA Rose To 4.35% As Compared To 2.91%.

Highlights Of Yes Bank Q2 Earnings:

  • NII at ₹2,186 Crore in Q2FY20 includes the impact of ₹228 crores due to fresh slippages during the quarter; NIMs at 2.7%
  • Non-Interest Income at ₹946 Crores; 10% sequential growth in Retail Banking Fees. Robust Growth in Digital Banking led fee Streams
  • Operating Expenses at ₹1,673 Crores for Q2FY20
  • Pre-Provisioning Operating Profit at ₹1,458 Crores for Q2FY20; Provisions of ₹1,336 Crores.
  • Profit Before Tax at ₹122 Crores for Q2FY20; Net Loss at ₹600 Crores for Q2FY20 due to one-time DTA adjustment of ₹709 Crores on account of change in Corporate tax rate regime.
  • Excluding this impact, adjusted Net Profit at ₹109 Crores
  • Book Value at ` 109.0 per share as on September 30, 2019

Yes Bank, Which Has Been Desperately Trying To Raise Money To Stay Afloat, On Thursday Said A Global Entity Has Made A Binding Offer To Invest $1.2 Billion Through An Issue Of New Shares.

The Investment, On Clearance By The Reserve Bank Of India (RBI), Will Diminish The Shareholding Of Yes Bank’s Original Promoters Rana Kapoor And Late Ashok Kapur’s Wife Madhu Kapur. Such A Large Issuance, If Made To A Single Investor, May Result In A Change Of The Bank’s Promoters.

As Of The June Quarter, Yes Bank’s Tier I Capital Adequacy Ratio Stood At 10.7% Against The Regulatory Requirement Of 8.875%. Its Common Equity Tier 1 Capital Stood At 8%, Marginally Above The Regulatory Requirement Of 7.375%.

On 14 August, Yes Bank Raised $270 Million Through A Qualified Institutional Placement. Yes Bank Has Been Dealing With A Surge In Doubtful Loans And Falling Share Price. The Bank Will Declare Its September Quarter Earnings On Friday. On Thursday, The Bank Said It Also Continues To Be In Advanced Talks With Other Global And Domestic Investors.

Shares Of YES Bank Closed At 66.60 Over 6 Per Cent Down In Trade On Friday Ahead Of Its Financial Results For The Quarter Ended September 2019.

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