YES BANK LTD. - 532648 - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Yes Capital (India) Pvt Ltd Yes Bank Ltd - 532648 - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Yes Capital (India) Pvt Ltd Yes Bank Ltd - 532648 - Announcement under Regulation 30 (LODR)-Acquisition
ACquisition of Shares pursuant to invocation of pledge YES BANK LTD. - 532648 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Schedule of Analyst/Institutional Investors Call(s) YES BANK LTD. - 532648 - Yes Bank Ltd reply to clarification sought by the exchange
The Exchange had sought clarification from Yes Bank Ltd with reference to the media report, "Yes Bank faces fresh audit into complaints by whistle-blower"Yes Bank Ltd response is enclosed.
YES Bank faces hurdles as it raises fresh capital
by Ritmbarah Arora YES Bank has been in the news of late for its sharp fall in the stock prices. There was a time when the bank’s shares reached its peak at Rs 285.90 and later fell to Rs 29.05. In the midst of this chaos, Rakesh Jhunjhunwala created a buzz in the market when he bought 1.30 crore shares which accounts for 0.51% shares in the bank for Rs 87 crore on November 4, 2019. He picked up shares at Rs 67.10 per share in the bulk deal. However, brokerages remain bearish on YES Bank. Quick Takes: YES Bank operates as subsidiary functions in YES Bank, YES Capital and YES Asset Management Service The bank reported a loss of Rs 600.1 crore due to a one-off DTA adjustment of Rs 709 crore on account of change in corporate tax rate regime YES Bank faces fresh audits after a whistleblower complaint in September 2018 The bank is seeking new investments and business transactions with Hero Corporate Services and DSP Group The bank says that it has received a binding offer from a global investor for an investment of $1.2 billion subject to regulatory and other necessary approvals. YES Bank Suffered a Loss of Rs 600 crore in Q2FY20 Mumbai headquartered YES Bank is a private sector bank. It primarily operates as a corporate bank with retail banking and asset management as subsidiary functions - YES Bank, YES Capital and YES Asset Management Services. The bank has been Ranked No. 1 for exemplary performance in digital payments across public, private, foreign and payment banks in India by Ministry of Electronics & Information Technology (MeitY) on October 21, 2019.. The bank had reported its September quarter results on November 1, 2019 which reported a loss of Rs 600.1 crore due to a one-off DTA adjustment of Rs 709 crore on account of change in corporate tax rate regime. Excluding this one-time hit, adjusted profit was Rs 109 crore. The profit for Q2FY19 was reported at Rs 964.70 crore. This was the second consecutive loss for YES Bank after a loss of Rs 1,506.60 crore in Q1FY20. Gross non-performing assets (GNPA) jumped to 7.4% from 5% in Q1FY20 and 1.6% in Q2FY19. NII for Q2FY20 was reported at Rs 2,186 crore including impact of Rs 228 crore due to fresh slippages during the quarter. NIM stood at 2.7% while non-interest income was at Rs 946 crore for Q2FY20. Gross slippages for Q2FY20 was at Rs 5,945 crore whereas, recoveries and upgrades aggregated to Rs 867 crore. Revenue from corporate lending fell to Rs 4,741 crore from Rs 5,721 crore, registering a fall of 17% YoY. The bank reiterated that it has received a binding offer from a global investor for an investment of $1.2 billion subject to regulatory and other necessary approvals. “The bank has elected to exercise the option permitted under section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the bank has recognized provision for Income Tax for quarter and half year ended 30 September, 2019 and re-measured its deferred tax assets," as mentioned in the notes accompanying the financial result. YES Bank Faces Fresh Audit After Complaints by Whistleblower Received in 2018 BSR & Co., the statutory auditor of YES Bank has sought a fresh audit into whistleblower complaints against the bank and its founder Rana Kapoor, after a special audit done by JLN US & Co. turned out to be inconclusive. The whistleblower alleged irregularities in the bank’s operations, potential conflict of interests in relation to Rana Kapoor and misclassification of bad loans. “The regulators can suo moto call for an audit of the loans given by the bank to promoter’s related party entities. The shareholders should push for a change in the board, especially of directors who are considered close to the promoter, who no longer owns any significant shareholding in the company," said Shivram Subramanian, founder and Managing Director of proxy advisory firm InGovern Research Services. While the board is aware of the latest audit report, it is yet to take a decision on the matter. Amidst all the bleak news, Sunil Munjal, Chairman of Hero Corporate Services and Hemendra Kothari, veteran investment banker and founder of DSP Group have held separate talks with YES Bank to buy 5-10 percent stake each in the bank as per a report from Mint. Weighed down by profit booking, the share price of YES Bank declined as much as 3.9% and touched an intraday low of Rs 70.2 on the BSE after opening at Rs 74.6 on November 13. In the meantime, the bank has been taking several initiatives to bridge the gap between banking and fintech innovations. YES Bank is launching API Sandbox for Banking. YES Bank will grant access to APIs across in four categories which includes Account Management, Payments, Cards and CRM. Enablers will be able to customise digital solutions for its clients because of this new feature. Even as the shares of YES Bank rallied about 50%, Rana Kapoor was forced to sell his holdings in October. With so much of forfeiture, Ravneet Gill, Chief Executive Officer of the bank still has his hopes high as he commented, “Capital is of utmost importance to the bank and we want the money to be in the bank by December. Once we get the capital it will run us for 24 months.” Yes Bank Ltd - 532648 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Schedule of Analysts/Institutional Investors Meet(s) Yes Bank Ltd - 532648 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Schedule of Analysts/Institutional Investors Meet(s) YES BANK LTD. - 532648 - Clarification sought from Yes Bank Ltd
The Exchange has sought clarification from Yes Bank Ltd with respect to news article appearing on www.livemint.com - November 14, 2019 titled "Yes Bank faces fresh audit into complaints by whistle-blower".The reply is awaited. CARE Ratings downgrades Yes Bank's debt instruments
It said Yes Bank's profitability is expected to remain under pressure in the near to medium term due to asset quality stresses that are likely to play out over the period.