Shares of Yes Bank gained more than seven percent intraday on November 4 on the back of possible capital infusion by investors in the company.
The bank has received bids worth $3 billion from various investors and family offices, CEO Ravneet Gill told CNBC-TV18.
It is in discussions to raise $1.6 billion from a clutch of six global private equity funds and two domestic mutual funds. Talks are on to raise a further $300 million from two groups of domestic investors, including two family offices and two financial investors, reports PTI.
The private lender had reported a loss of Rs 600.08 crore during the July-September period on November 1. It had reported a profit of Rs 964.70 crore in the year-ago period and Rs 113.76 crore in the June-ended quarter.
Net interest income during Q2 declined 9.6 percent year-on-year to Rs 2,185.91 crore, which including fresh slippages of around Rs 228 crore.
Also Read - Yes Bank: Caught between the lure of new capital and drag of toxic assets
Credit and deposits declined six percent each YoY while net interest margin contracted 10 bps sequentially and 60 bps YoY to 2.7 percent in Q2 FY20.
But growth momentum sustained in retail advances with 30 percent YoY growth, now accounting for around 20 percent of advances in comparison to around 14 percent YoY.
Its CASA ratio improved to 30.8 percent in Q2 FY20 against 30.2 percent in QoQ.
At 09:55 hours, the stock was quoting Rs 69.25, up Rs 2.65, or 3.98 percent on the BSE.
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