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Yes Bank posts Rs 3,788-crore net loss in Q4

The financial institution has guided for money recoveries value Rs 5,000 crore in FY22 and it expects slippages to be lower than that.

Private sector lender Yes Bank on Friday reported a net loss of Rs 3,787.75 crore for the March quarter of FY21, in opposition to a revenue of Rs 2,629 crore a 12 months in the past, which had arisen out of the writedown of its extra tier-I bonds. Effectively, the financial institution had posted a net loss of Rs 3,668 crore in Q4FY20, which widened in Q4FY21 owing to a 22.5% year-on-year (y-o-y) drop in net curiosity revenue (NII) and a 7.6% rise in provisions.

The financial institution noticed recent slippages value Rs 11,800 crore throughout This autumn, with Rs 8,000 crore coming from the moratorium ebook. Prashant Kumar, managing director & CEO, stated, “We believe the numbers (on asset quality) have seen a peak, with March outcomes showing improvement.” Most of the stress has emerged from sectors which have been beneath stress due to Covid, equivalent to hospitality, journey and industrial actual property, he added.

Recoveries stood at Rs 1,960 crore and upgrades had been to the tune of Rs 654 crore. Yes Bank made technical write-offs of non-performing property (NPAs) value Rs 10,300 crore. The gross NPA ratio rose 5 foundation factors (bps) sequentially to fifteen.41% and the net NPA ratio rose 184 bps to five.88%. The financial institution has guided for money recoveries value Rs 5,000 crore in FY22 and it expects slippages to be lower than that.

Yes Bank’s provisions rose 7.6% y-o-y to Rs 5,240 crore and its provision protection ratio (PCR) fell to 78.6% from 81.5% on the finish of December. The cumulative provisions by the financial institution, together with that for Covid, stood at Rs 26,558 crore in March 2021, down from Rs 32,010 crore on the finish of December 2020.

The advances ebook shrank 5.5% y-o-y to Rs 96,426 crore as on March 31. Retail advances accounted for 30% of the mortgage ebook on the finish of March 2021, as in opposition to 28% 1 / 4 in the past. The administration forecast an advances development of over 15% in FY22, led by a 20% development within the retail and SME ebook.

Deposits stood at Rs 1.63 lakh crore on the finish of March, up 55% y-o-y and 11% sequentially. The present account financial savings account (CASA) ratio stood at 26.1% in Q4FY21, decrease than 26.6% a 12 months in the past.

The financial institution’s net curiosity margin (NIM), a key measure of profitability, slid 180 foundation factors (bps) sequentially to 1.6%.

The capital adequacy ratio as per Basel III stood at 17.5% as on March 31. The widespread fairness tier-I (CET-I) ratio was at 11.2% on the finish of March.

Yes Bank’s shares on the BSE ended flat at Rs 14.55 on Friday. The outcomes had been launched after the shut of commerce.

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