Yes Bank board approved fund raising of Rs10,000 cr by issue of debt securities1 min read . Updated: 10 Jun 2021, 07:03 PM IST
- The bank’s loan book shrank 3% in 2020-21, but the management is confident of clocking a 15% credit growth in FY22
Yes bank on Thursday said that the board has approved the raising of funds worth ₹10,000 crore by issue of debt securities.
“In its meeting held on June 10 have, inter alia, considered and approved seeking shareholders’ approval for borrowing/raising funds in Indian/foreign currency up to an amount of Rs. 10,000 crores by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN) etc," said the bank in a press release.
Private lender Yes Bank on Friday reported a net loss of ₹3,787.75 crore for the March quarter. The bank had reported net loss of ₹3,668 crore (excluding extraordinary income) in the same quarter last year. The gross non-performing assets (NPAs) stood at 15.41% in Q4 as compared to 15.36% in the previous quarter. The net NPAs came at 5.88% versus 4.04% quarter-on-quarter (QoQ). The bank’s loan book shrank 3% in 2020-21, but the management is confident of clocking a 15% credit growth in FY22.
Recently the Securities Appellate Tribunal (SAT) had imposed an interim stay on a Securities and Exchange Board of India's (Sebi's) order issued on 12 April, in which a penalty of ₹25 crore was slapped on Yes Bank, and three of its executives for allegedly not informing investors of risk factors while facilitating the sale of the AT-1 bonds in the secondary market.
The Central Bureau of Investigation (CBI) has registered a case against Gautam Thapar, the promoter of Avantha Group, and others for alleged diversion of public money to the tune of ₹466.15 crore, following a complaint by Yes Bank. Thapar is already under investigation in a case registered by CBI in March 2020 for allegedly bribing Rana Kapoor, the co-founder of Yes Bank.
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