INSUBCONTINENT EXCLUSIVE:
75% of their holding for at least three years.
The caveat means anyone who has more than Rs 2,555 ($35) invested in the lender -- an amount
Investors including Desjardins Global Asset Management and local funds such as ICICI Prudential Asset Management Co
and Aditya Birla Sun Life Asset Management Co
capital plunged far below the regulatory minimum as its bad-loan ratio surged.
YES Bank results highlights:CET1 ratio 0.6% end-December
versus regulatory minimum 7.375%Gross bad-loan ratio 18.9% in December versus 7.4% SeptemberSlipped to a loss of Rs 18,560 crore for
October-December from a Rs 1,000 crore net profit a year earlier; had reported a Rs 630 crore loss for April-SeptemberWhile speculation of a
additional tier 1 bonds -- hybrid securities, which can be written off if certain triggers are breached.
The bank believes AT1 bonds
invest Rs 7,250 crore; stake capped at 49%ICICI Bank Rs 1,000 crore; about 5%HDFC Rs 1,000 crore; about 5%Axis Bank Rs 600 croreKotak
Mahindra Bank Rs 500 croreBandhan Bank Rs 3 croreFederal Bank Rs 3 croreYES Bank shares rose 2% in Mumbai on Friday to Rs 25.55 a share,
paring its decline this year to about 46%
The price is higher than the Rs 10 State Bank will pay for each YES Bank share.
State Bank will have to hold at least 26% of YES Bank for
The rules were officially notified late on March 13 and curbs imposed on YES Bank -- including a limit on withdrawals and servicing of
liabilities -- will be lifted within three working days.
While Finance Minister Nirmala Sitharaman flagged the lock in on Friday, investors
had presumed it would only apply to institutions rescuing YES Bank and were dismayed when the written notification indicated existing
shareholders were subject to the rule, too
director at KR Choksey Securities, told BloombergQuint.