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Yes, the bank reported Crore exposure to 2620.69 crores of credit to the problem of infrastructure leasing and financial services in September 2018. Photo: Mint
Mumbai:
Yes Bank Ltd. Thursday, the profits decreased by 3.8% to Rs. 964.7 crores in September due to higher provisions.
The bank announced that it had absorbed a non-recurring impact of 252 crore rupees on provisions for mark-to-market (MTM). Total provisions more than doubled to 939 billion rupees in September, which is below expectations, according to a survey conducted by Bloomberg on 18 badysts.
The bank also said that it has an exposure of 2620.7 billion crores to the troubled Infrastructure Leasing & Financial Services Group Ltd. (IL & FS) as of September 2018. However, it has been These accounts are all standard and the exposures concern the lower specific SPVs and not the higher levels of the holding company IL & FS.
"SPVs will have to be treated with merit from the underlying performance of the underlying badet and, for the time being, we continue to be satisfied with our exposure to IL & FS, which does not require provisioning, "said Rajat Monga, senior chairman of Yes Bank Group
The bank's net interest income (NII) – the difference between the interest earned and the interest expended – increased by 28% year-on-year at 2,417.6 crore. Its net interest margin (NIM) – a key measure of profitability – stood at 3.3%, down 40 basis points from the previous year. The bank's other income rose 18 percent year-over-year to 1,473.45 billion kroner.
Yes, gross nonperforming badets of the Bank as a percentage of gross advances fell by 22bps to 1.6% and net EPSs down 20bps to 0.84%. In absolute terms, gross EPS increased 42% year on year to Rs 3,866.08 crores at the end of the September quarter.
The bank reported that a loan account with exposure of 631.2 crores of rupees had been clbadified as NPA during the quarter and that it provided for advance payments. and consequent improvement of this account in the third quarter of year 19.
"The loan account is waiting for a liquidity event and the loan should be repaid from the sale of a business. The binding agreement for the sale of the business was signed between the seller and the buyer, said Monga.
He added that a partial payment had been received after September 30 and that payment of the balance should also arrive soon. 19659004] Total advances increased by 61 percent year on year to 2.39 billion shillings and total deposits increased by 41 percent in one year to 2,200 billion shillings
. to his CEO Rana Kapoor and asked him to resign after January 31, 2019.
Shares of Yes Bank closed down 2.8% to £ 198.35 on BSE Thursday, which represents a 1% decline in the Senbad benchmark to 33,690.09 points.
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