Yes Bank posts Q4 loss of Rs3,788 cr
New Delhim Private sector lender Yes Bank on Friday posted a whopping standalone net loss of Rs 3,788 crore for the fourth quarter ended March 2021 due to a fall in income and jump in provisions for bad loans. The bank had reported a loss of Rs 3,668 crore in the same period last year. However, due to the exceptional write back of Rs 6,296.94 crore, the bank's bottom line turned positive at Rs 2,628.61 crore during January-March period of 2019-20.
During the quarter, the total income of the bank declined to Rs 4,805.30 crore from Rs 5,818.59 crore in the same period a year ago, Yes Bank said in a regulatory filing. At the same time, provisions (other than tax expense) and contingencies rose to Rs 5,239.59 crore as compared to Rs 4,872.34 crore.
On the asset front, the bank's gross non-performing assets (NPAs) as of March 31, 2021 stood at 15.41 per cent of the gross advances, slightly down from 16.80 per cent in the year-ago period. However, net NPAs rose to 5.88 per cent from 5.03 per cent in the year-ago period. For the full 2020-21 fiscal, the bank narrowed its net loss to Rs 3,462.23 crore from a loss as high as Rs 16,418.02 crore in the previous year. Total income during the year also witnessed a decline to Rs 23,382.56 crore from Rs 29,508.10 crore a year ago. The bank said proactive provisioning of Rs 250 crore towards Covid-19 related restructuring (Rs 2,500 crore) is expected to be implemented in first quarter of the current fiscal.