INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Private lender YES Bank on Friday reported a loss of Rs 600.08 crore for the September quarter due to a one-off DTA adjustment of
Rs 709 crore on account of change in corporate tax rate regime
Excluding this one-time hit, adjusted profit was Rs 109 crore.
The lender had posted Rs 964.70 crore profit in the corresponding quarter
last year.
This was the second biggest loss for the bank since its listing after Rs 1,506.60 crore loss in March quarter this year.
Analysts
in an ET NOW poll had projected a loss of Rs 400 crore.
Gross non-performing assets (GNPA) for the quarter jumped to 7.39 per cent from 5.01
per cent in the June quarter and 1.6 per cent in the year-ago period.
Q2 HighlightsThe bank made provisions of Rs 1,336 crore during the
The lender said it has identified certain performing accounts that are facing stress due to current market and liquidity conditions.
NII for
the quarter came in at Rs 2,186 crore, which included impact of Rs 228 crore due to fresh slippages during the quarter
NIM for the quarter stood at 2.7 per cent.
Non-interest income stood at Rs 946 crore for the quarter.
Gross slippages for the quarter stood
Recoveries and upgrades aggregated to Rs 867 crore.
YES Bank had created provisions of Rs 2,100 crore towards these identified accounts in
During the quarter ended June 30, the bank utilised Rs 1,399 crore and for the quarter ended September 30, the bank utilised the balance
from the pool towards specific provisioning of NPAs.
The bank reiterated that it has received a binding offer from a global investor for an
investment of $1.2 billion subject to regulatory and other necessary approvals.
The lender has also received multiple other non-binding but
strong bids from marquee domestic and global institutional investors and family offices, YES Bank said.
