YES Bank to consider raising funds through debt

21 Jun 2024 , 11:54 AM

YES Bank Ltd, a private sector lender, said on Thursday (20 June) that its Board of Directors will meet in Mumbai on Tuesday, June 25, 2024, to discuss and accept a resolution allowing the bank to borrow or generate funds by issuing debt instruments.

The planned fundraising possibilities include issuing debt securities in both Indian and foreign currencies. These securities could include non-convertible debentures, bonds, and Medium Term Notes (MTNs).

The bank plans to include a special resolution for this potential fundraising in its upcoming Annual General Meeting (AGM) notice. This action is consistent with the terms of the Companies Act 2013 and its accompanying rules.

YES Bank recorded a net profit of ₹454 Crore, up 124.3% from the previous fiscal period’s ₹202.4 Crore. The lender’s net interest income increased by 2.3% to ₹2,153.1 Crore from ₹2,105.2 Crore in the fourth quarter of FY23.

The bank’s gross non-performing assets (NPA) decreased by 11% to ₹3,982 Crore in the March quarter, from ₹4,457.4 Crore in the preceding quarter. The gross NPA percentage for the fourth quarter was estimated to be 1.7%, compared to 2% in the December quarter.

In Q4 2023-24, net NPAs decreased by 31.4% to ₹1,329.7 Crore from ₹1,934.4 Crore in Q3. Its net NPA% was 0.60%, down from 0.9% the previous quarter, indicating that asset quality metrics have improved.

At around 11.49 AM, YES Bank was trading 0.13% lower at ₹23.93, against the previous close of ₹23.96 on NSE. The counter touched an intraday high and low of ₹24.14, and ₹23.82, respectively.

For feedback and suggestions, write to us at [e-mail]