Yes Bank posts record Rs.18,564-cr loss in December quarter
Click here to read full article from source
Mumbai, March 14 -- Crisis-hit Yes bank on Saturday reported a record loss of Rs.18,564 crore 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 Rs.1001.8 crore during the corresponding period last year and loss of Rs.629 crore at the end of 30 September, 2019.
Yes Bank's gross non-performing assets in absolute terms jumped near eight fold to Rs.40,709 crore at the end of December 2019. This includes additional loans worth Rs.5,150 crore, which was classified as NPA between 1 January to 14 March. The bank had reported GNPA worth Rs.17,134 crore at the end of September 2019.
GNPA as a percentage of t...
To read the full article or to get the complete feed from this publication, please Contact Us