Yes Bank board approves debt fund raising of Rs 10,000 crore

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MUMBAI: Private lender on Thursday said that is board of directors have approved raising up to Rs 10,000 crore by the issue of debt securities.

“The board of directors have approved raising funds in Indian/foreign currency up to an amount of Rs. 10,000 crores by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note,” the lender said in an exchange filing.

The lender had raised nearly Rs 15,000 crore last year through a follow-on public offering. The lender’s capital adequacy ratio was 17.5 percent, while the common equity tier-I (CET-I) ratio stood at 11.2 percent at the end of March.

The bank had reported a net loss of Rs 3,787.75 crore in the March quarter versus a profit of Rs 2,629 crore a year ago. The lender also reported fresh slippages worth Rs 11,800 crore during the March quarter.

On the asset front, the bank’s gross non-performing assets (NPAs) as of March 31, 2021 stood at 15.41 per cent of the gross advances, slightly down from 16.80 per cent in the year-ago period. However, net NPAs rose to 5.88 per cent from 5.03 per cent in the year-ago period.

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