Yes bank disclosed that there had been an over Rs 44,000-crore dip in its deposits between September and December to Rs 1, 65,000 crores.
Mumbai: Crisis-hit Yes bank on Saturday reported a record loss of ₹18,564 crores in the quarter ending 31 December 2019 owing to a sharp jump in bad loans and higher provisioning.
The bank, which has been put under moratorium by the government, had reported a profit of ₹1001.8 crores during the corresponding period last year and loss of ₹629 crores at the end of 30 September 2019.
Private sector Bandhan Bank said it will invest Rs 300 crore in Yes Bank as part of RBI’s reconstruction plan for the crisis-hit lender.
In a late-night filing on Friday, Bandhan Bank said its board has “granted approval for an equity investment of Rs. 300 crore for acquiring up to 30 crore equity shares of Rs 2 each of YES Bank Limited, for cash, at a premium of Rs 8 per equity share, under the proposed Scheme of Reconstruction of YES Bank Limited under the Banking Regulation Act, 1949, subject to regulatory and government approval”.
ICICI Bank, Housing Development Finance Corp Ltd, Axis Bank and Kotak Mahindra Bank too on Friday said they will join the SBI-led consortium and invest in Yes Bank.
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The bank had sought permission to defer its reporting of the financial results to Saturday when Gill was in the helm, pointing out to the difficulties it posed to the capital raising exercise, which never materialised.
Under Kumar, it went ahead with the plan to disclose numbers and the administrator has also said that the numbers for the December quarter would reveal the true extent of the stress present on the books.
In quick time, the RBI had mooted an SBI-led reconstruction plan, which focuses on raising nearly Rs 11,000 crore in the capital with help from Yes Bank’s private-sector peers.
“The Bank’s Administrator has made an assessment of its ability to continue as a going concern and is satisfied that the proposed capital infusion and the bank’s strong customer base and branch network will enable the Bank to continue its business for the foreseeable future, it said in the notes to accounts.
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