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Yes Bank Q4 net zooms 30% to Rs 914 cr; bad loans soar

19 April, 2017 12:01 PM
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Yes Bank Q4 net zooms 30% to Rs 914 cr; bad loans soar

Yes Bank today reported a 30.2 per cent rise in net profit at Rs 914.12 crore for the last quarter of 2016-17, even as its bad assets swelled.

Total income (standalone) of the bank grew 29.4 per cent to Rs 5,606.38 crore, against Rs 4,331.11 crore in the corresponding period a year ago, the bank said in a regulatory filing.

However, the asset quality of the bank slipped, with gross non-performing assets (NPAs) or bad loans rising to 1.52 per cent of gross advances as on March 31, 2017, as against 0.76 per cent a year ago.

Net NPAs rose to 0.81 per cent of net loans disbursed from 0.29 per cent earlier.

Thus, provisioning to cover bad loans, including contingencies, were raised to Rs 309.73 crore, from Rs 186.46 crore year earlier, it said.

At its board meeting held today, the bank also decided to raise funds of up to Rs 20,000 crore through issuance of debt securities on a private placement basis.

"The Board of Directors have approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, medium term notes, bonds up to Rs 20,000 crore (in Indian rupees or foreign currency) to eligible investors on private placement, subject to approval of the shareholders," Yes Bank said.

It has also approved final dividend of Rs 12 per equity share for 2016-17.

Also read: United Bank sinks into red with ₹344 cr. loss

Source: business-standard.com

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