Yes Bank Board Approves Rs 2,500 Crore Debt Raise

26 Jun 2023 , 11:20 AM

Yes Bank, a private sector lender, announced that its board has given approval to raise up to Rs 2,500 crore in debt.

The fundraising can be in the form of non-convertible debentures, bonds, medium-term notes, or other instruments, as stated in a regulatory filing. Shareholders will vote on the proposal at the bank’s annual general meeting scheduled for 18th August.

As per data, as of 31st March, Yes Bank’s total capital adequacy ratio stood at 17.9%, reflecting a 50 basis points increase compared to the previous year. In the three months ending March, Yes Bank reported a net profit of Rs 202 crore, a decrease from Rs 367 crore in the same period last year, primarily due to higher provisions.

The bank’s total provisions in Q4 FY23 amounted to Rs 618 crore, more than double the amount reported in the same period the previous year. Yes Bank’s net interest margin (NIM), a key profitability indicator, increased by 30 basis points to 2.8% in Q4 FY23 compared to Q3 FY23.  The net interest income (NII), the difference between interest earned and expended, reached Rs 2,105 crore, reflecting a 15.7% year-on-year growth.