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The shares of the private sector lender YES Bank gained nearly 20 per cent to Rs 31.55 snapping a four-day losing streak on Thursday.
The lender on Wednesday posted a net profit of Rs 2,621 crore for the fourth quarter of last fiscal due to one-time adjustment from AT1 bonds. The bank reported a significant erosion in its deposit base at Rs 1.05 lakh crore as on March 31, 2020.
Its net profit got a boost in the fourth quarter of 2019-20 after taking into account income from the write-down of Basel III compliant Additional Tier I (AT I) Bonds amounting to Rs 8,415 crore.
Its deposit base more than halved to Rs 1,05,364 crore as on March 31, 2020, from Rs 2,27,610 crore a year ago. Investors had been withdrawing steadily from the bank, and its deposits had fallen to Rs 1,65,755 crore as on December 31, 2019.
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