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<ul><li>Yes Bank is expected to<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/yes-bank-q1-results-on-wednesday-will-it-be-a-second-straight-loss-for-the-bank/articleshow/70239656.cms"> post as much</a> as ₹500 crore loss tomorrow according to a Kotak Equities report.</li><li>Since March this year, as much as 50% of the bank’s value was shaved off. This was after the banking regulator insisted that its founder Rana Kapoor step down.</li><li>YES Bank’s exposure in Anil Ambani Group companies stands at around 2.9% of its loan book.</li><li>Its exposure to the DHFL, Indiabulls and Essel groups combined exceeds around 4% of the gross loan book.</li></ul> Yes Bank is expected to<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/yes-bank-q1-results-on-wednesday-will-it-be-a-second-straight-loss-for-the-bank/articleshow/70239656.cms"> post as much</a> as ₹578 crore loss tomorrow according to a Kotak Institutional Equities report, as it declares it quarterly earnings. In spite of this, today its stock rallied by 11.4% on rumours that it has received an offer from an international private equity investor. This is light at the end of the tunnel. Since March this year, as much as 50% of the bank’s value has been shaved off. This was after the banking regulator insisted that its founder Rana Kapoor step down over allegations that it has not been disclosing the bad loans on its books accurately. Understandably, brokerages have all but given up hope. “YES has dug itself into a hole. Its stock price has breached levels we would not have previously anticipated in any rational or logical assumptions, and now trades materially below our last published downside price,” said a report by Jeffries equity report. 
 
 
 
 
 
 
 
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 Toxic Exposure Oil baron Paul Getty once famously said that, “If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem”. And, Yes Bank has a lot of problems from a lot of groups who are slipping down a slippery slope. Some of their notorious creditors include housing finance company Dewan Housing Finance Limited (DHFL), which has declared recently that it might not be<a href="https://www.businessinsider.in/dhfl-stock-crashes-9-93-in-early-trade-to-61/articleshow/70222831.cms"> able to survive</a> as a going concern. Yes Bank also has a lot of exposure to Anil Dhirubhai Ambani Group (ADAG), many of whose companies like Reliance Capital and Reliance Home Finance have gone through rating downgrades aside from auditors pointing out problems with the books of Reliance Infrastructure and 
 
 
 
 
 
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. Around half of Yes Bank’s loans to the construction sector are with ADAG projects, linking its fate with the troubled group. “YES Bank’s exposure in ADAG group stands at around 2.9% of loan book as per recent Ministry of Corporate Affairs (MCA) filings. Apart from this, the bank’s exposure to the DHFL, Indiabulls and Essel groups combined exceeds around 4% of gross loan book,” said a report by Elara Securities. Repairing the bank Like many top banks including SBI, changing the management is expected to do the trick. The new management led by Ravneet Gill has been working towards bringing in new investors. However, the bank management refuted rumours of a possible deal reported in the media today. “The bank in its ordinary course of its business continues to explore various means to raise capital, funds through issuance of securities to diverse set of investors, in order to meet its business, regulatory requirements,” the bank told the stock exchanges. According to Elara, a stake sale would instill confidence. They are also watching how the bank can grow, as ‘repair work’ is in progress, as there would be less room for credit growth as its books are cleaned. But new capital coming into the bank can change that. And, brokerages expect the management to walk the talk. “Not surprisingly, management assurances have helped little. Upside rationale, if any, completely hinges on the bank's ability to raise capital. Clearly there's more than meets the eye, perhaps a limited clean up of asset quality issues, something we had alluded to in our earnings assessment, keeps the street on the edge,” said Jeffries.

Yes Bank’s investors are desperate for a buyer amid fears of a massive quarterly loss

<ul><li>Yes Bank’s net profit stood at ₹114 crore for the first quarter of 2019-20, which fell by a massive 94.4% from the same quarter last year, at ₹1,265 crore. </li><li>Its non-performing assets or loans that have turned bad, stood at ₹6,883 crore. </li><li>The bank’s net interest income grew 2.8% y-o-y to ₹2,281 crore during the quarter. </li></ul> Yes Bank posted as much as ₹114 crore in net profits for the first quarter of 2019-20, beating street predictions that it would post heavy losses. However, its profits fell by a massive 91% from the same quarter last year, at ₹1,265 crore. In addition, the report has a lot of cause for worry. Its provisions which is the amount a bank sets aside in case a loan goes bad, is at a massive ₹1,785 crore, which ballooned from ₹625 crore in the same quarter last year. As per the bank’s earnings report, its non-performing assets or loans that have turned bad, stood at ₹6,883 crore. An NPA account with an exposure of ₹411 crore was sold to an asset restructuring company during the quarter, the bank had said. ‘Quarter of Consolidation’ The bank’s net interest income grew 2.8% y-o-y to ₹2,281 crore during the quarter. This is in spite of absorbing an impact of ₹223 crores of interest reversals on account of slippages during the quarter, the bank said. “This was a ‘Quarter of Consolidation’ in which the bank has demonstrated strong resilience in revenues and asset quality. We believe that earnings trajectory should strengthen significantly from hereon,” the bank said in a press release. In anticipation of possible losses, the bank’s stock closed 5.2% lower in today’s trade, at ₹98.4. A Kotak Equities had forecasted that Yes Bank will<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/yes-bank-q1-results-on-wednesday-will-it-be-a-second-straight-loss-for-the-bank/articleshow/70239656.cms"> post as much</a> as ₹500 crore in losses. Brokerages believed that this quarter too, like last quarter would end in red, when it had posted a loss of ₹1,508 crore. The brokerages have also been worried ever since the stock has been taking a beating since March this year. As much as 50% of the bank’s value was shaved off, after the banking regulator insisted that its founder Rana Kapoor step down, over allegations that it has not been making disclosures on its asset quality as per norms. The quality of the bank’s assets has been a cause for worry to investors and analysts alike. “YES Bank’s exposure in Anil Dhirubhai Ambani Group stands at around 2.9% of loan book as per recent Ministry of Corporate Affairs (MCA) filings. Apart from this, the bank’s exposure to the DHFL, Indiabulls and Essel groups combined exceeds around 4% of gross loan book,” said a report by Elara Securities on June 26. SEE ALSO <a href="https://www.businessinsider.in/business/yes-bank-share-price-rises-hoping-for-a-buyer-ahead-of-earnings/articleshow/70248683.cms">Yes Bank’s investors are desperate for a buyer amid fears of a massive quarterly loss</a>

Yes Bank profits dropped 91%-- but it was still way better than expectations

IDFC First Bank on Sunday said it will make an equity investment of Rs 250 crore in beleaguered Yes Bank to acquire 25 crore equity shares. "...duly authorized committee of the Board of Directors of IDFC FIRST Bank Ltd had at its meeting held on March 14, 2020 accorded approval for an equity investment of upto Rs 250 crores comprising upto 25 crore equity shares at a price of Rs 10 each and face value of Rs 2 each, under the proposed Scheme of Reconstruction of Yes Bank Ltd under the Banking Regulation Act, 1949, subject to regulatory and government approval(s), if any," the bank said in a BSE filing. Earlier on Saturday, Federal Bank had committed to investing Rs 300 crore in Yes Bank for subscription of its 30 crore shares. The Centre on Saturday notified the YES Bank Limited Reconstruction Scheme, 2020, a day after the Union Cabinet approved a reconstruction plan proposed by the RBI for bailing out fund-starved Yes Bank. The authorised capital of Yes Bank has been increased to Rs 6,200 crore, Finance Minister Nirmala Sitharaman said on Friday. As per the reconstruction scheme, moratorium on the troubled lender will be lifted on March 18. Under the plan, state-run SBI will infuse Rs 7,250 crore in the crisis-ridden bank and take 49 per cent equity. As per the rescue plan, ICICI Bank will invest Rs 1,000 crore, mortgage lender HDFC Rs 1,000 crore, Axis Bank Rs 600 crore, Kotak Mahindra Bank Rs 500 crore, Bandhan Bank and Federal Bank Rs 300 crore each. There will be a three year lock-in period for all the investors. However, the lock-in period for SBI would be only for 26 per cent of shareholding. It would be 75 per cent in case of other investors. KKS RVK

Yes Bank gets Rs 250 crore from IDFC First Bank

New Delhi, May 7 () Shares of Yes Bank on Thursday zoomed 20 per cent after the company reported a net profit of Rs 2,629 crore for the March quarter. The stock jumped 19.92 per cent to Rs 31.60 on BSE, while it rallied 19.96 per cent to Rs 31.55 on NSE. Yes Bank on Wednesday reported a net profit of Rs 2,629 crore for the March quarter, helped by a massive gain of over Rs 6,200-crore arising out of a controversial write-off of bond investors' investment. If the one-off gain is excluded, then the bank, which was bailed out by a consortium-led by State Bank of India (SBI) in March, has a loss of Rs 3,668 crore in the latest quarter under review. The private sector lender posted a loss of Rs 18,560 crore in the December quarter while the loss was at Rs 1,506 crore in the March 2019 quarter. The one-time gain is from the write off of additional tier-I bondholders' Rs 8,419-crore investment, according to a release. For the fiscal year 2019-20, Yes Bank reported a loss of Rs 16,481 crore. It had a profit of Rs 1,720 crore in the year-ago period. The bank showed a marginal improvement in the gross non-performing assets ratio at 16.80 per cent in the March quarter as against 18.87 per cent in the three months ended December 2019. SUM ANSANS

Yes Bank shares zoom 20 pc on quarterly profit

New Delhi, Feb 12 () Troubled lender Yes Bank on Wednesday said the financial results for the third quarter ended December 2019 will be delayed and is expected by mid-March as the management is "deeply engaged" in fundraising exercise. "As you are aware, the bank is currently engaged in capital raising. In this regard, we wish to disclose that we have received non-binding expressions of interest from several prominent investors. "Given that the current capital-raising process has the bank's fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019, on or before March 14, 2020," it said in a regulatory filing. Yes Bank said it has received non-binding expressions of interest from companies including JC Flowers &amp; Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); and Silver Point Capital. "The bank and its financial advisors are currently in discussions with these investors on the commercial terms, including pricing, of their investments which, it may be noted, will be subject to certain conditions and receipt of requisite approvals, including regulatory approvals with respect to the size of the stake to be acquired, as well as necessary dispensations with regard to applicable pricing guidelines," it said. The private sector lender said the delay in financial results exceeds the 45-day period from the end of the relevant quarter as stipulated under Regulation 33 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also said the bank will further inform about the progress with respect to capital raising. On November 3, Chief Executive Officer Ravneet Gill had said the bank was aiming to finish a USD 1.2-billion equity-raising exercise by December 2019 and willing to give new investors a board seat. Earlier in August, it had raised Rs 1,930.46 crore through qualified institutional placement (QIP) to fund its business expansion. In January this year, Moody's Investors Service placed Yes Bank Ltd's long-term foreign currency issuer rating of 'B2' under review, with the direction uncertain on the bank's inability to raise new capital. The Mumbai-headquartered lender had total assets of Rs 3.5 lakh crore at the end of September 2019. Shares of Yes Bank on Wednesday closed at Rs 35.20 apiece on the BSE, down 4.48 per cent from the previous close. KPM HRS

Yes Bank to delay Q3 results till mid-March, says management 'deeply engaged' in fundraising

New Delhi, Mar 9 () RBI-appointed Yes Bank administrator Prashant Kumar on Monday said the lender is working to restore all banking services for its customers as as soon as possible. "I think for us, the first priority is the customers and how to provide the seamless business to our customers and like you must have seen on the very first day, all our ATMs were up for the customers," Kumar said in an interview to a TV channel. He said, since Saturday evening even the ATMs of other banks were available for customers for cash withdrawal. "And in our branches, our staff is reaching out to customers. They are dealing with their issues. I would also like to take this opportunity to thank all our customers who have really cooperated with us, who have shown lot of patience. And I think this is the faith in the brand of Yes Bank," Kumar told CNBC TV 18. Yes Bank customers have been restricted with a cash withdrawal limit of Rs 50,000 till April 3 ever since the Reserve Bank superseded the board of the bank on March 5, 2020 and appointed Kumar - a former SBI executive - as its administrator. Kumar also assured that for the remaining days of the moratorium on Yes Bank, the bank staff is working hard so that all banking services could be restored at the earliest. The RBI restriction on Yes Bank has also severely impacted other financial market transactions such as forex, credit card, digital payment, among others. "All of us are working so that the entire banking service is available to our customers as soon as possible," Kumar said.Even before the RBI action, the Mumbai-headquartered lender had deferred announcement of its earnings for the third quarter of 2019-20 to March 14 or before. "I think we are going to declare our results on March 14th," Kumar said. In an exchange filing on Saturday, Yes Bank had said, "the administrator will consider and take on record the unaudited financial results of the bank, for the quarter and nine months ended on December 31, 2019 along with limited review report thereon by the statutory auditors of the bank on Saturday, March 14, 2020." To a question that the bank's capital requirement is much higher than what SBI will bring up with its 49 per cent stake buy in the bank for Rs 2,450 crore, Kumar said the clarity would come with the board meeting when it announces the earnings for the third quarter. "What SBI has shown interest is of 49 per cent..definitely there would be more requirement. We are in talks with like minded investors. SBI is also doing that part. "So we are quite hopeful that in a couple of days the issue about the capital requirement will be taken care of," Kumar said. KPM KPM ANUANU

Working to restore all services, says Yes Bank administrator

<ul><li>The central bank signed off on <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>’s financial statements for the year ended March 2018 in its latest <keyword id="7324747" type="UNKNOWN" weightage="20" keywordseo="Risk-Review">risk review</keyword>.</li><li>The clean chit from the RBI will reassure investors as the bank attempts a phase of recovery under new CEO Ravneet Gill.</li><li>Yes Bank's shares surged nearly 30% in the first session of trading today. </li></ul>Late last evening, Yes Bank, one of India’s largest private sector lenders, <a href="https://www.yesbank.in/media/press-releases/divergence-in-asset-classification-and-provisioning-for-position-as-on-march31-2018">declared </a>that the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> had cleared it of under-reporting <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword>. The central bank signed off on Yes Bank’s financial statements for the year ended March 2018 in its latest risk review, indicating the lender’s compliance with reporting and asset provisioning norms. As a result, Yes Bank's share price soared by nearly 30% in the first session of trading today amid a renewed sense of confidence in the lender. The news is welcome for Yes Bank. The lender had a rather tumultuous 2018, losing more than <a href="https://www.businessinsider.in/one-of-indias-largest-private-banks-has-lost-more-than-half-its-market-value-in-37-days/articleshow/65991141.cms">half its market share</a> in less than 1.5 months between August and September as a result of two things - the RBI’s discovery that it had under-reported tens of billions of non-performing loans and its subsequent refusal to grant CEO <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword> an extension to his term. In 2015-16, the RBI found a net divergence of <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-clears-yes-bank-of-divergence/articleshow/67982541.cms">₹42 billion</a> in its assessment of Yes Bank’s bad loans, which subsequently ballooned to ₹64 billion the following year. While it might be too late to reinstate Rana Kapoor, the clean chit from the RBI will reassure investors as the bank attempts a phase of recovery <a href="https://www.businessinsider.in/yes-bank-stock-jumps-on-new-ceo-appointment/articleshow/67685861.cms">under new CEO Ravneet Gill</a>. It will pave the way for the bank to raise capital from the market and prevent a downgrade from ratings agencies. For the quarter ended December 2018, Yes Bank posted <a href="https://www.yesbank.in/pdf/q3fy2018_19_press_release_mn_pdf">a 7% decline</a> in net profit to ₹10 billion while net provisions stood at ₹50.8 billion - more than 90% of which were taken for exposure to IL&amp;FS or a “stressed infrastructure conglomerate” . More importantly, the growth in its gross non-performing assets was curtailed, as the bad loan ratio rose to 2.1% from 1.72% in the year-ago quarter. SEE ALSO: <a href="https://www.businessinsider.in/one-of-indias-largest-private-banks-has-lost-more-than-half-its-market-value-in-37-days/articleshow/65991141.cms">One of India’s largest private banks has lost more than half its market value in 37 days</a> <a href="https://www.businessinsider.in/yes-bank-stock-jumps-on-new-ceo-appointment/articleshow/67685861.cms">Yes Bank's 15-month journey from regulatory crackdown to finding a new CEO</a> <a href="https://www.businessinsider.in/yes-banks-problems-get-further-compounded-as-its-chairman-is-forced-to-resign-amid-a-corruption-probe/articleshow/66634836.cms">Yes Bank’s problems get further compounded as its chairman is forced to resign amid a corruption probe</a>

India’s central bank says that Yes Bank is no longer lying about its bad loans

New Delhi, Feb 13 () Shares of Yes Bank on Thursday jumped over 6 per cent after the company said the management is "deeply engaged" in fund raising exercise.The scrip gained 5.68 per cent to close at Rs 37.20 on the BSE. During the day, it climbed 7.95 per cent to trade at Rs 38.On the NSE, it advanced 6.39 per cent to close at Rs 37.45.Yes Bank on Wednesday said the financial results for the third quarter ended December 2019 will be delayed and is expected by mid-March as the management is "deeply engaged" in fund raising exercise."As you are aware, the bank is currently engaged in capital raising. In this regard, we wish to disclose that we have received non-binding expressions of interest from several prominent investors. Given that the current capital-raising process has the bank's fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019, on or before March 14, 2020," it said in a regulatory filing. Yes Bank said it has received non-binding expressions of interest from companies including JC Flowers &amp; Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); and Silver Point Capital. SUM RUJ

Yes Bank shares jump over 6 pc on fund raising buzz

Mumbai, Mar 14 () Crisis-hit Yes Bank reported on Saturday a loss of Rs 18,564 crore for the December quarter. The bank, which has been put under moratorium by the government last week, had reported a net profit of Rs 1,000 crore in the year-ago period and a loss of Rs 629 crore in the preceding September quarter. The share of the gross non performing assets in the overall loans bloated to 18.87 per cent as against 7.39 per cent in the preceding quarter, while the capital buffers also plummeted. The overall provisions of Rs 24,765 crore hurt the profitability the most as the same number had stood at Rs 1,336 crore in the quarter-ago period. The capital adequacy ratio has fallen to 4.2 per cent, which is nearly a fourth of the 16.3 per cent it had reported at the end of the September quarter, and much below regulatory requirements. An inability to raise capital had resulted in the bank being put under moratorium last Thursday, which is set to be lifted next week. The RBI has appointed Prashant Kumar as the administrator, under whose supervision the results have been declared. Kumar is set to be the chief executive and managing director of the bank under the reconstruction plan approved by the Union cabinet on Friday. AAHMB

Yes Bank reports Rs 18,564-cr loss for Dec quarter

New Delhi, Mar 5 () The government has approved a plan for a consortium of lenders, led by State Bank of India, to acquire a controlling stake in Yes Bank, highly places sources said on Thursday. An announcement is expected soon, they added. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties. It has also delayed announcement of 2019 December 2019 quarter results due to the ongoing crisis. The bank's capital buffers have come down due to non-performing assets. The sources said the government has cleared a plan for a SBI-led consortium to acquire a controlling stake in the bank. In a clarification to stock exchanges on reports that the government is said to have approved SBI's plan to buy stake in Yes Bank, the state-owned lender said it would disclose developments, if any, as per Sebi regulations. "... we will abide by the timelines under Regulation 30 of Sebi (LODR) Regulations 2015 in disclosing the developments, if any in the matter to stock exchanges," it added. Yes Bank has been passing through a tumultuous period ever since the Reserve Bank, in August 2018, asked the then chief executive Rana Kapoor to leave by January 31, 2019, amid concerns on governance and loan practices. Under his successor Ravneet Gill, the lender has disclosed large under-reported stressed assets. The bank reported its maiden loss in the March 2019 quarter. Yes Bank had initially planned to raise capital of over USD 2 billion in the current fiscal. Later, its board rejected a USD 1.2 billion investment in the bank by Canadian investor SPGP Group/ Erwin Singh Braich. Mumbai-headquartered Yes Bank was incorporated in 2004. The bank's asset size stood at Rs 3,71,160 crore at the end of June 2019. Promoters of Yes Bank -- Madhu Kapur, Yes Capital (India) Pvt Ltd and Mags Finvest -- hold 8.33 per cent stake in the crisis-ridden bank, as per data available on the stock exchanges. The bank's co-founder Rana Kapoor has sold his entire stake in the bank. Besides, foreign portfolio investors hold 15.17 per cent stake, state-owned LIC has 8.06 per cent, and mutual funds own 5.09 per cent. Shares of Yes Bank rose nearly 22 per cent to Rs 35.60 apiece in late afternoon trade on the BSE. DP KPM NKD CS RAM

SBI-led consortium to buy controlling stake in Yes Bank, announcement likely soon: Sources

New Delhi, Mar 19 () Yes Bank on Thursday said that India Ratings and Research (Ind-Ra) has revised rating watch on the bank's long-term issuer rating of 'IND BB-' to rating watch evolving (RWE) from rating watch negative (RWN). The RWE indicates the possibility of the ratings being either upgraded, downgraded or affirmed. "Ind-Ra has revised the rating watch on Yes Bank Ltd's long-term issuer rating of 'IND BB-' to RWE from RWN," Yes Bank said in a filing to the BSE. The revision of the rating watch follows the systemic support Yes Bank has received recently, in terms of both equity and liquidity, from the new set of investors and the regulator for its reconstruction. It also considers the pressure that could show up on the liabilities once the regulator-imposed moratorium is lifted. Ind-Ra had downgraded the bank's ratings and maintained them on RWN on March 6, 2020; in the agency's opinion, the temporary regulator-imposed moratorium resulted in the bank not being able to follow through with settlement and transaction requests, the filing said. Subsequently, the bank declared its third quarter results. Its gross non-performing assets (NPAs) increased to 18.87 per cent in 3QFY20 from 7.39 per cent in 2QFY20 while its net NPAs grew to 5.97 per cent from 4.35 per cent. "This implies the additional recognition of Rs 230 billion as non-performing till the time of publishing the 3QFY20 results and not just end-December 2019. Including this, the total stressed book including non-fund limits to the same accounts is about Rs 490 billion," the filing said. The Reserve Bank of India (RBI) had put restriction on the lender on March 5, under which the bank''s customers were allowed to withdraw up to Rs 50,000 till April 3. The government notified the Yes Bank reconstruction scheme last week. SID SID ANSANS

India Ratings revises rating watch on Yes Bank to 'evolving'

New Delhi, Mar 19 () Yes Bank on Thursday said that India Ratings and Research (Ind-Ra) has revised rating watch on the bank's long-term issuer rating of 'IND BB-' to rating watch evolving (RWE) from rating watch negative (RWN). The RWE indicates the possibility of the ratings being either upgraded, downgraded or affirmed. "Ind-Ra has revised the rating watch on Yes Bank Ltd's long-term issuer rating of 'IND BB-' to RWE from RWN," Yes Bank said in a filing to the BSE. The revision of the rating watch follows the systemic support Yes Bank has received recently, in terms of both equity and liquidity, from the new set of investors and the regulator for its reconstruction. It also considers the pressure that could show up on the liabilities once the regulator-imposed moratorium is lifted. Ind-Ra had downgraded the bank's ratings and maintained them on RWN on March 6, 2020; in the agency's opinion, the temporary regulator-imposed moratorium resulted in the bank not being able to follow through with settlement and transaction requests, the filing said. Subsequently, the bank declared its third quarter results. Its gross non-performing assets (NPAs) increased to 18.87 per cent in 3QFY20 from 7.39 per cent in 2QFY20 while its net NPAs grew to 5.97 per cent from 4.35 per cent. "This implies the additional recognition of Rs 230 billion as non-performing till the time of publishing the 3QFY20 results and not just end-December 2019. Including this, the total stressed book including non-fund limits to the same accounts is about Rs 490 billion," the filing said. The Reserve Bank of India (RBI) had put restriction on the lender on March 5, under which the bank''s customers were allowed to withdraw up to Rs 50,000 till April 3. The government notified the Yes Bank reconstruction scheme last week. SID SID ANSANSANS

Ind-Ra revises rating watch on Yes Bank to 'evolving'

New Delhi, Mar 12 () Local high networth individuals and leading financial institutions have evinced interest in putting money in crisis-hit Yes Bank, analysts said on Thursday. There is lot of interest in putting money into Yes Bank because now the real value will be unlocked as the stock price has already reached Rs 26 apiece, IIFL Securities Director Sanjiv Bhasin said. There is a mixed bag of local investors, mutual funds, AMCs,HNIs alongside ICICI and HDFC, he said further. "There is ICICI, HDFC, then there are individual HNIs like Radhakishan Damani (Dmart), Rakesh Jhunjhunwala and some mutual funds," Bhasin added. Yes Bank's administrator Prashant Kumar, a former SBI executive, has said that the lender is in talks with various investors to raise capital. Yes Bank was superseded by the RBI last Thursday under an administrator after it failed to raise capital. The troubled lender will announce its third quarter results for December 2019 on Saturday and analysts expect that there will be deterioration in bank's asset quality. "I think there will be deterioration in the asset quality, slippage would be higher, their core equity capital is expected to go below what RBI mandates," said an analyst on the condition of anonymity. The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented. Emkay Global Financial Services said: "We expect Yes Bank to report a loss of Rs 778 crore, mainly due to recognition of heavy corporate NPAs from its stress pool including ADAG NBFC, some real estate acounts and pending NPA provisioning for FY19." Emkay said it believes that SBI stake buy in Yes Bank will provide immediate capital support in the phase 1 of restructuring and also ensure continued support in the future capital raise with SBI being an anchor investor. "Apart from capital support, SBI holding stake in the bank will soothe depositors, as otherwise Yes Bank has been witnessing sharp deposit run down. However, we believe apart from capital infusion, bank will have to strip-off assets to further release capital and also rake up internal liquidity to pay-off depositors, where SBI can provide a pivotal role in buying these assets," it added. Bhasin said it has to be seen how much asset quality deterioration will be there on the results day. "Once we know that...recapitalisation, you know there is Rs 20,000 crore coming as far as capital (is concerned) and Rs 30,000 crore as deposits to allay all investors' negativity, so that is all presumption." As per the bank's reconstruction plan, SBI has committed Rs 2,450 crore investment through an acquisition of 49 per cent equity in Yes Bank, which remains in moratorium till April 3, as bank's capital condition has jeopardized. Yes Bank over the last over one year has failed to raise enough capital under the new leadership of Ravneet Singh Gill, who took charge as the managing director and CEO from March 1, 2019. Troubles at new-generation private sector started brewing up ever since the Reserve Bank denied extension to its co-founder Rana Kapoor -- who now is in the custody of the Enforcement Directorate on charges of financial mismanagement and money-laundering -- to continue as MD and CEO in September 2018, and had asked the lender to find a new successor. Yes Bank shares closed at Rs 25.05 on BSE, down 13.02 per cent from the previous close. KPM MR

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