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MUMBAI: Private lender YES Bank reported a loss of Rs 18,564 crores at the end of the December quarter against a profit of Rs 1000 crore a year ago.
It had reported a loss of Rs 629 crore in the September quarter.
The lender’s bad loans shot up substantially to Rs 40,709 crore during the period under review.
Such loans were at Rs 5158 crore a year ago.
The gross NPA ratio came it at 18.87% versus 2.10% during the corresponding period last year.
It’s net NPA ratio was at 5.97%.
In line with the rise in bad loans, the lenders provisions rose to Rs 24,765 crores during the period of review versus Rs 548 crore last year.
YES bank witnessed a significant erosion in its capital with common equity tier 1 or the CET ratio coming in at 0.6% against a regulatory minimum of 7.375%.
The bank also reported capital adequacy ratio at 4.2%, this number was 16.4% a year ago and 16.3% in the September quarter.
The bank also reported significant flight in its deposits.
It lost deposits worth Rs 40,000 crore during the October to December period with the total investment quantum at Rs 1.65 lakh crore.
It further lost deposits of nearly Rs 30,000 crore in the January to March period forcing it to breach its minimum requirement of the cash reserve ratio and statutory liquidity requirement.
It’s deposits now stand at Rs 1.37 lakh crore.
