Yes Bank shares surge over 7 pc after Q4 net profit
Mumbai (Maharashtra) [India], May 7 (ANI): Shares of Yes Bank rose by 7.6 per cent on Thursday afternoon, a day after the private sector lender reported a net profit of Rs 2,629 crore in the January to March quarter against a loss of Rs 1,507 crore a year ago.
ANI
May 07, 2020 13:39 IST
Mumbai (Maharashtra) [India], May 7 (ANI): Shares of Yes Bank rose by 7.6 per cent on Thursday afternoon, a day after the private sector lender reported a net profit of Rs 2,629 crore in the January to March quarter against a loss of Rs 1,507 crore a year ago.
This was largely due to income from write-down of additional tier 1 (AT1) bonds.
The net interest income for Q4 FY20 at Rs 1,274 crores grew 19.6 per cent sequentially on account of lower slippages compared to Q3 FY20.
The net interest margin for Q4 FY20 at 1.9 per cent was an increase of 50 basis points over Q3 FY20 while non-interest income for Q4 FY20 at Rs 597 crore grew 12.3 per cent year-on-year.
Retail banking fees demonstrated resilience during the quarter despite lockdown and moratorium.
According to rating agency ICRA's estimates, Yes Bank required equity infusion of Rs 9,000 crore to 13,000 crore to meet regulatory capital requirements, including capital conservation buffers.
On March 13, the government had approved a rescue plan for Yes Bank backed by State Bank of India
The stock has fallen nearly 40 per cent this year but saw a rise of 24 per cent in April. At 1:30 pm on Thursday, it was trading at Rs 28.35 per unit -- up 7.6 per cent. (ANI)
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