Yes Bank, which is one of India’s leading private-sector lenders on Friday announced the approval by its board of directors to raise Rs 2,500 crore in debt.
In the regulatory filings, the lender stated that the following fundraise in rupees or a foreign currency could be through non-convertible debentures, bonds or medium-term notes, among others. The proposal to raise funds through debts will be voted on by the shareholders of the bank in its annual general meeting stated on August 18. The total adequacy ratio of Yes Bank stood at 17.9% on 31st March which was an uptrend of 50 basis points (bps) from the same time last year.
The net profit reported by Yes Bank was Rs 202 crore in the three months to March against a profit of Rs 367 crore it earned in the same period last year due to higher provisions. The total provisions were reported at Rs 618 crore in Q4 of FY23, which is more than double the lender reported in the same timeframe last year.
The net interest margin of Yes bank, which is a key indicator of profitability was measured at 2.8% in Q4 of FY23 an upscale of 30 basis points (bps) from Q3 of FY23, whereas its net interest income (NII), which shows the difference between interest earned and interest expanded showed at Rs 2,105 crore, up by 15.7% on a year-on-year basis.
