Yes Bank to raise Rs 10,000 crore via debt securities – ThePrint

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Bombay (Maharashtra) [India], June 11 (ANI): The board of directors of private sector lender Yes Bank approved the request for shareholder approval to raise up to Rs 10,000 crore in Indian or foreign currency by issuing debt securities, including including, but not limited to, non-convertible debentures, bonds and medium term bills.

During the January-March quarter, the crisis-hit lender reported a stand-alone net loss of Rs 3,788 crore against a net loss of Rs 3,668 crore during the period of the previous year.

On the asset front, the bank’s gross non-performing assets as of March 31 stood at 15.41% of gross advances, down slightly from 16.8% the previous year. However, net NPA increased to 5.88 percent from 5.03 percent.

For the whole of fiscal year 2020-21, the bank reduced its net loss to Rs 3,462 crore from a loss of Rs 16,418 crore the previous year.

At the end of the March quarter, the lender had a capital adequacy ratio of 17.5%, compared to 19.6% at December 31, with a Tier 1 capital ratio of 11.2% at year-end (FY21) compared with 13.1 percent in the third quarter of FY21.

On March 5 last year, the Reserve Bank of India (RBI) placed Yes Bank under moratorium and appointed Prashant Kumar as the new CEO and managing director.

According to the RBI-backed bailout, the State Bank of India has acquired up to 49% stake in Yes Bank. HDFC and ICICI Bank infused Rs 1000 crore each, Axis Bank Rs 600 crore and Kotak Mahindra Bank Rs 500 crore. (ANI)

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John A. Bogar

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