ANI
11 Jun 2021, 13:25 GMT+10
Mumbai (Maharashtra) [India], June 11 (ANI): The board of directors at private sector lender Yes Bank has approved seeking shareholders' nod for raising up to Rs 10,000 crore in Indian or foreign currency by issuing debt securities, including but not limited to non-convertible debentures, bonds and medium-term notes.
In the January to March quarter, the crisis-hit lender reported a standalone net loss of Rs 3,788 crore as against a net loss of Rs 3,668 crore in the year-ago period.
On the asset front, the bank's gross non-performing assets (NPAs) as of March 31 stood at 15.41 per cent of gross advances, marginally down from 16.8 per cent in the year-ago period. However, net NPAs rose to 5.88 per cent from 5.03 per cent.
For the full 2020-21 fiscal, the bank narrowed its net loss to Rs 3,462 crore from a loss of Rs 16,418 crore in the previous year.
At the end of March quarter, the lender had a capital adequacy ratio of 17.5 per cent compared to 19.6 per cent as of December 31 with common equity tier-1 ratio of 11.2 per cent at the end of the last fiscal (FY21) as compared with 13.1 per cent in Q3 FY21.
On March 5 last year, the Reserve Bank of India (RBI) had placed Yes Bank under a moratorium and appointed Prashant Kumar as the new CEO and Managing Director.
According to RBI-backed rescue plan, State Bank of India acquired up to 49 per cent stake in Yes Bank. HDFC and ICICI Bank infused Rs 1,000 crore each, Axis Bank Rs 600 crore and Kotak Mahindra Bank Rs 500 crore. (ANI)Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
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