Yes Bank posts net loss of Rs 3,668 crore in Q4

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NEW DELHI: Private lender Yes Bank on Wednesday posted a standalone net loss of Rs 3,668 crore for the fourth quarter ended March 31, 2020. The bank had reported a net loss of Rs 1,506 crore in the same period last year.
In the previous quarter ended December 2019, it had posted a record loss of Rs 18,564 crore after being put under administration. Bad loans had also shot up to Rs 40,709 crore in the quarter.
The Bank also has a total deferred tax asset of Rs 8,281 crore as at March 31, 2020.
On March 5, the Reserve Bank had imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 perdepositor after it found that the new management was unable to raise the urgent core capital which had fallen much below the mandated level.
Later, the Union Cabinet cleared a rescue package for the bank involving a Rs 7,250 crore investment by the State Bank of India (SBI). Four private lenders also committed an additional Rs 3,100 crore as part of the rescue plan.
Shares of Yes Bank closed 0.94 per cent lower at Rs 26.35 on the BSE, while its finished 0.75 per cent lower at Rs 26.40 on the NSE.

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