Crisis-ridden private sector lender Yes Bank, which had to be bailed out by a group of banks led by State Bank of India in March this year, posted a net loss of Rs 3,668 crore in the quarter ended March on account of higher provsions, or the money set aside to cover risky loans. The loss posted in the three months to March 2020 more than doubled compared with the Rs 1,507 crore loss the bank posted a year ago.
Yes Bank showed an extraordinary income of Rs 6,297 crore (net of tax) from the writedown of additional tier- 1 (AT1) bonds in its profit and loss account. If that amount were to be adjusted with the profit after tax (PAT) figure, the bank would show a profit of Rs 2,628 crore.
Most notably, the gross non-performing assets (GNPAs), or bad loans, of the bank stood at 16.8 percent compared with 3.22 percent a year ago. Compared with the December quarter, the gross NPAs have eased up a bit from 18.87 percent in December. Net NPAs in the March quarter stood at 5.03% compared with 5.97 percent in the December quarter and 1.86 percent in the year ago quarter.
The bank's deposits have shrunk to Rs 1.05 lakh crore, down 54 percent compared with Rs 2.27 lakh crore in the year ago quarter while advances declined 29 percent y-o-y to Rs 1.7 lakh crore from Rs 2.4 lakh crore in the year-ago quarter. The capital adequacy ratio under Basel-III fell to 8.5 percent from 16.5 percent in the year ago quarter.