Yes Bank shares gain 7% following company board’s fundraising plans

New Delhi (Anish Yande): Shares of Yes Bank rose by 7 per cent on Monday’s trading session as the company’s board of directors considered approval of raising funds. Yes Bank shares opened at Rs 13.85 per share rising to an intraday high of Rs 15.20 per share from its previous close of Rs 13.75 per share. The shares of the private sector bank’s market cap of the company rose to Rs 3,781 crore.

Yes Bank board of directors consideres approval of raising funds:

In a press release, Yes Bank declared that its Board of Directors would be holding a meeting on June 10. The board would be considering the issue of raising funds for the bank. If approved, the company would seek the approval of its shareholders for raising funds.

Yes Bank would be looking to raise funds in either Indian or foreign currency through the issue of debt securities including but not limited to bonds, non-convertible debentures,  medium-term note and other methods. 

The private banking company is a full-service commercial bank. Yes Bank offers services and technology-driven digital offerings, a complete range of financial products.

Yes Bank March quarter results:

Yes Bank has posted a net loss of Rs 3,688 crore in the March quarter of the previous fiscal. The private sector lender’s net loss widened to Rs 3,788 crore in Q4 2021. The net profit of Yes Bank was recorded at Rs 151 crore in the March quarter of FY20. The net loss of Yes Bank increased in the quarter was impacted by an increase in loan loss provisions and lower net interest income.

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The non-interest income in the March quarter of 2021 is at Rs 816.04 crore, increasing by 36.6 per cent YoY. The operating profit pre-provision of the private sector lender increased by 73.7 per cent to Rs 184.88 crore during the quarter ended March 2021.

Provisions of Yes Bank were recorded at Rs 5,240 crore in the quarter ended March 2021, increasing by 7.5 per cent. The provisions rose by 138 per cent on a sequential basis. Yes Bank made additions of bad loans worth Rs 11,889 crore in the same quarter. 

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