Yes Bank net loss swells to Rs 3,788 crore in Q4
Mumbai (Maharashtra) [India], Apr 30 (ANI): Crisis-hit lender Yes Bank on Friday reported a standalone net loss of Rs 3,788 crore in the March quarter as against a net loss of Rs 3,668 crore in the year-ago period.
ANI
Apr 30, 2021 18:00 IST
Mumbai (Maharashtra) [India], Apr 30 (ANI): Crisis-hit lender Yes Bank on Friday reported a standalone net loss of Rs 3,788 crore in the March quarter as against a net loss of Rs 3,668 crore in the year-ago period.
In the quarter ended December (Q3 FY21), it had posted a profit of Rs 151 crore. Net interest income in Q4 FY21 declined by 23 per cent to Rs 987 crore as against Rs 1,274 crore in Q4 FY20.
Non-interest income crashed by 32 per cent to Rs 816 crore from Rs 1,197 crore in Q3 FY21 but rose by 37 per cent from Rs 597 crore in the same period.
Thus the total net income shows a marginal decline of 3.6 per cent in Q4 FY21 at Rs 1,803 crore from Rs 1,871 crore in the same period of previous year. However, the dip works out to 52 per cent from Rs 3,758 in Q3 FY21.
Deposits grew by 11 per cent quarter-on-quarter at Rs 1.62 lakh crore and 55 per cent year-on-year with 6.6 lakh CASA accounts (current accounts saving accounts) opened in FY21.
Retail and SME disbursements were at Rs 12,150 crore in Q4 FY21. But provisions rose by 7.5 per cent to Rs 5,240 crore as compared to Rs 4,872 crore in March 2020.
"The bank has demonstrated significant improvement in performance across key indicators despite severe headwinds of Covid-19 and moratorium imposed in Mar 2020," it said in a statement.
But worryingly, the bank's gross non-performing assets (NPAs) stand at 15.41 per cent and net NPAs at 5.88 per cent.
On March 5 last year, the Reserve Bank of India (RBI) had placed the crisis-hit lender under a moratorium and appointed Prashant Kumar as the new CEO and Managing Director.
According to RBI-backed rescue plan, State Bank of India acquired up to 49 per cent stake in Yes Bank. HDFC and ICICI Bank infused Rs 1,000 crore each, Axis Bank Rs 600 crore and Kotak Mahindra Bank Rs 500 crore. (ANI)
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