Yes Bank Ltd posted a net profit of ₹151 crore during the third quarter of the current financial year compared to a net loss of ₹18,560 crore in Q3FY20. Around ₹8,300 crore worth of loans on the banks' books have not been classified as non-performing assets (NPAs) pending a Supreme Court verdict in Gajendra Sharma vs Union of India, the bank said in its financial results and investor presentation. Around ₹5,132 crore worth of loans not recognised as NPAs belong to corporates, ₹1,224 crore are retail loans and over ₹700 crore were loans to small-medium-enterprises, the bank said in its investor presentation. Further, around ₹6,537 crore worth of loans are overdue by 61 to 90 days, the bank said. Prashant Kumar, managing director and chief executive officer, Yes Bank says that if the Supreme Court does not issue a verdict by March 31 this year, the bank will be able to increase its cash recoveries, but if it does, the banks' gross NPA figure will increase by ₹8,300 crore which translates to 4.5% of the lenders' existing loan book. As of December 31, 2020, the banks' GNPA ratio stood at 15.36%, which means on a proforma basis the GNPA would rise to over 20% if these default accounts were recognised, Kumar said during a media interaction on Friday. “The proforma numbers are looking large as compared to where we were in March 2020, because we have reduced our loan book in the last few quarters. We believe that the Covid-related…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...