YES Bank Reports INR600cr Loss in September Quarter, Says It Has Offers Worth $3bn On The Table

YES Bank losses rise to INR600.08cr in September quarter. Lender says it is in talks with potential investors to infuse $3bn in capital.

 

YES BANK

YES Bank reports INR600.08cr loss for September quarter.

YES Bank Says “Oh No”: On Friday, private lender YES Bank reported an INR600.08cr loss for the September quarter. This was the biggest loss for the bank since its listing after the INR1506.6cr loss in the quarter ending March this year.

 

The loss was mainly due to a one-off DTA adjustment of INR709cr due to the change in the corporate tax regime. Excluding this, the adjusted profit was INR109cr.

 

How Times Change: At the same time last year, YES Bank had reported a profit of INR964.7cr.

 

Meanwhile, gross NPAs for the quarter rose to 7.39% from 5.01% in the June quarter and the 1.6% last year. ET Markets

 

Lender says it is in discussion with investors to pump in $3bn in capital.

 

Options on the Table: The lender said it is in discussion with investors willing to pump in over $3bn in capital. YES Bank’s capital adequacy has dipped in recent quarters due to recognition of stressed assets.

 

These potential investors reportedly include a family office in the US, two groups of domestic investors, and six global private equity funds. BBG Quint

 

FIN.

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