Yes Bank share price surged 58 percent intraday on March 16 after the government notified a rescue plan for the private sector lender led by State Bank of India (SBI) and others.

According to the plan cleared by the Union Cabinet on March 13, the State Bank of India (SBI) is the lead investor in the consortium which will invest Rs 7,250 crore in Yes Bank, as it will pick 725 crore shares at Rs 10 each.

The other lenders also have joined the rescue plan — HDFC, and ICICI Bank will invest Rs 1,000 crore each, while Axis Bank and Kotak Mahindra Bank will invest Rs 600 crore and Rs 500 crore, respectively.

Federal Bank and IDFC First Bank board approved investment of Rs 300 crore and Rs 250 crore, respectively, while Bandhan Bank granted approval for an equity investment of Rs 300 crore for acquiring up to 30 crore equity shares of Yes Bank.

However, Yes Bank reported a loss of Rs 18,564 crore at the quarter ended December compared with a rise in profit of Rs 1001.8 crore a year ago, dragged down by a precipitous rise in bad loans and severe decline in deposit base, bank said in a statement.

It posted a net loss of Rs 600.08 crore in the previous quarter.

The bank's gross NPAs shot up to 18.87 percent in the given quarter, as against 2.10 percent in the year-ago period and 7.39 percent in previous quarter.

Its net interest income, the difference between interest earned and interest expended, fell considerably by 60 percent year-on-year to Rs 1,064.78 crore, and the sequential decline was 51.23 percent.

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