Gross bad loans as a percentage of total loans stood at 1.82% at end-Sept, compared with 0.97% in Q1
The stock dipped 10% to Rs 299 on the BSE in early morning trade.
Private lender YES Bank plans to raise up to Rs 4,000 crore through tier-II bonds, for better capital adequacy and to support business growth.India Ratings has assigned an 'AA+' rating with a stable outlook for the proposed offer. The rating factors in the bank's ability to manage credit risk, a reasonably large and expanding franchise, sufficient levels of capitalisation after equity infusion and improved profitability buffers. The stable outlook reflects expectation that any deterioration in asset quality would be adequately absorbed by operating profits without impairing Tier-1 capitalisation (13.8 per cent ratio in June, said India Ratings.The bank is expected to maintain above-average core capitalisation on an ongoing basis, in line with higher rated private sector peers. The rating also factors in the bank's proportion of bulk funding being relatively higher than better rated peers. Although the former's concentration on the deposits side has been improving, depositor ...
Money to be raised in one or more tranches through private placement
Since July 3, the bank announced the stock split plan the stock outperformed the market by surging 29% against 3.5% rise in Sensex
Bank also slashed interest rate on savings accounts to 6.25% from existing 6.5%
The bank has also slashed interest rate on savings accounts to 6.25% from existing 6.5%
Meanwhile, YES Bank's board on Wednesday approved a 5-for-1 stock split of equity shares
IndusInd Bank, Bajaj Finance, Godrej Consumer and L&T Finance from Nifty500 index also hit new highs
Net profit is helped by 44% growth in net interest income to Rs 1,809 crore
The stock rallied 6% to Rs 1,717 on BSE on back of heavy volumes.
Gross bad loans as a percentage of total loans fell to 0.97% in Q1 from 1.52% in Q4FY17
SMEs contribute about 45 per cent of industrial output and employ 42 million people in India
YES Bank had informed the stock exchanges about the QIP and had opened the QIP on September 8
The stock dipped 6.5% to Rs 1,501 on BSE in early morning trade.
YES Bank's bad assets more than double
Bad loans rose 1.52% of gross advances as on March 31 as against 0.76% a year ago
Interest earned in the quarter rose more than 23% to Rs 4,349 cr
Interested candidates have to apply online till May 2017
Thus far in 2017, RBL Bank and YES Bank outperformed the market by gaining more than 30%.