Yes Bank reported a net profit of Rs 2,629 crore after the private lender wrote down additional tier-1 bonds as part of its reconstruction scheme. Excluding the write-down, the bank has posted a loss of Rs 3,668 crore for the fourth quarter ended March 2020, as against a loss of Rs 1,507 crore in the same period of last year.
The bank had reported a loss of Rs 18,560 crore in the December quarter. The income from write-down of AT1 bonds worth Rs 8,415 crore was Rs 6,297 crore, the bank said. The bank was placed under a moratorium by the RBI in March and a new management and board were appointed.
The bank’s gross NPAs were at Rs 32,878 crore (16.80 per cent of advances) this March as against 3.20 per cent in March 2019 and 18.87 per cent in December 2019.
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