YES Bank

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Yes Bank on Wednesday said it has reported a credit growth of 11.3 per cent at Rs 2.01 lakh crore for the March 2023 quarter. The outstanding credit was Rs 1.81 lakh crore at the end of March 31, 2022, Yes Bank said in a regulatory filing. The lender registered a 12.9 per cent growth in deposits excluding Certificate of Deposits (CDs). Another private sector lender Karnataka Bank posted a 6.1 per cent increase in total loans to Rs 61,326 crore, while deposits grew by 8.69 per cent to Rs 87,362 crore. As a conscious business decision and a course correction measure, the bank has not emphasised on large corporate lending due to low yields and highly competitive rates in this segment, which would have adversely impacted the NIM, Karnataka Bank said in a statement. This is reflected in the fact that the share of large corporates to gross advances has dropped by about 3 per cent as on March 2023 (provisional) vis--vis December 2022, it said.

A special PMLA court here on Saturday granted bail to Yes Bank co-promoter Rana Kapoor in a money laundering case linked to the alleged diversion of bank loan fund worth Rs 200 crore. Kapoor, however, won't walk out of prison as he is accused in multiple cases, including alleged fraud at Yes Bank. He was granted bail by special PMLA judge M G Deshpande. A detailed order is not available yet. Kapoor, 63, has been lodged in a Mumbai jail since March 2020 after he was arrested by the Enforcement Directorate in connection with alleged financial irregularities and purported kickbacks paid to him and his family members in return for certain dubious loans provided by Yes Bank to some high-profile borrowers. The case, in which he was granted bail on Saturday pertains to Rs 200 crore loan granted to Mackstar Marketing Pvt Ltd by Yes Bank. Kapoor's role in the sanction of this loan is under the scanner. Mackstar is a joint venture promoted by Ocean Deity Investments Holdings Ltd. (ODIL), a

If top court rules in favour of bondholders, Yes Bank shares could see a selloff as its capital base gets eroded, impeding its growth prospects; other banks, especially PSBs, may be impacted too

The wipeout of $17 billion worth of AT1 bonds in the UBS-Credit Suisse deal has spooked investors as they now assess if this can happen to their AT1 holdings in other banks as well

The Delhi High Court on Friday sought response of the Centre, Reserve Bank of India (RBI) and Securities Exchange Board of India (SEBI) on former Rajya Sabha MP Subramanian Swamy's plea

TMS Ep389: Repo rate hike, HUL CEO Rohit Jawa, YES Bank, contagion risk

Are we heading for another repo rate hike? What challenges does the new HUL MD & CEO face? Has YES Bank turned the corner? What is contagion risk? All answers here

SVB now threatens the start-up ecosystem, which is already in the throes of a funding winter due to raising interest rates

The lock-in on 75% of shares had led fund houses to markdown holdings in ETF and index funds to 'zero', as per recommendation from valuation committee of Amfi

Analysts at ICICI Securities believe near term risk include decision to write-down AT-1 bonds being challenged in court, which is currently stayed and supply overhang post expiry of stock lock-in

Passive trackers likely to sell 67 mn shares; another 1.35 bn could be offloaded by individual investors

YES Bank's stock is surrounded by a lot of speculations that the SBI may book at least partial profit and it may lead to more pressure on the stock

NSE Nifty50's sharp rebound from its 200-day moving average of 17,400 is what is giving technical analysts the requisite confidence

The Supreme Court on Friday issued notices to Axis Trustee Services Ltd on a batch of appeals filed by the Reserve Bank of India (RBI) and others challenging a Bombay High Court order quashing a decision of the Yes Bank Administrator to write off Additional Tier 1 (AT-1) bonds. The top court also extended the stay on the operation of the Bombay High Court order quashing the decision of the Yes Bank Administrator to write off AT-1 bond worth Rs 8,415 crore as part of the bailout in March 2020. A bench headed by Chief Justice D Y Chandrachud, however, assured the AT-1 bond investors that it would try to find out some kind of solution to the financial trouble being faced by them after senior advocate Mukul Rohatgi, appearing for Axis Trustee Services Ltd, said the invested money has become zero for no fault of theirs. It was the top officials of the bank who brought down the bank. Their men are in jail. Our money has become zero... we are not Tata-Birla. We are institutional investors.

The Supreme Court on Friday issued notices to Axis Trustee Services Ltd on a batch of appeals filed by the Reserve Bank of India (RBI) and others challenging a Bombay High Court order quashing a decision of the Yes Bank Administrator to write off Additional Tier 1 (AT-1) bonds. A bench headed by Chief Justice D Y Chandrachud took note of the submissions of Solicitor General Tushar Mehta, appearing for RBI, and senior advocate Kapil Sibal, representing Yes Bank, and extended the stay on the high court order quashing the decision of writing off AT-1 bonds. The Bombay High Court, while quashing the decision of the Yes Bank Administrator, had however said its decision will be in abeyance so the central bank and Yes Bank may appeal against it in the apex court. Issue notice. The stay granted (by the Bombay HC on its decision) will continue, said the bench, which also comprised justices P S Narasimha and J B Pardiwala. AT-1 bonds have no maturity date. These debt instruments offer highe

The HC had given the bank six weeks' time to challenge the order in the apex court

The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Zee Learn, following a petition filed by private sector lender Yes Bank Ltd. Yes Bank Ltd (YBL) had claimed a default of Rs 468.99 crore by the Essel Group company. Out of the default amount of Rs 468.99 crore, the principal amount was Rs 410.67 crore and Rs 58.32 was interest. The date of default was August 2, 2021. A two-member bench of the Mumbai NCLT said the application made by the financial creditor Yes Bank is complete in all respects as required by law. "It clearly shows that the Corporate Debtor (Zee Learn) is in default of a debt due and payable, and the default is in excess of the minimum amount stipulated under section 4(1) of the IBC," said NCLT. Therefore, the debt and default stand established and there is no reason to deny the admission of the Petition. "In view of this, this Adjudicating Authority (NCLT) admits this Petition and orders initiation of CIRP against the .

On January 20, the Bombay High Court had quashed YES Bank's decision to write off AT-1 bonds in March 2020

FPI holding rose to 20.18%, reinforced by Rs 47,349-crore inflows

Pental, who has been with YES Bank since November 2015, will continue to head retail banking; he is also non-executive director at YES Securities