Money & Banking

YES Bank's adjusted net profit down by Rs 636 crore following RBI's RAR

Our Bureau Mumbai | Updated on November 20, 2019

File photo   -  Reuters

YES Bank’s adjusted net profit for FY2019 has come down by Rs 636 crore to Rs 1,084 crore following the disclosure of divergence in asset classification and provisioning for non-performing assets (NPAs) as per the Reserve Bank of India’s (RBI) Risk Assessment Report (RAR) for the year 2018-19.

The RAR had assessed the divergence in provisions for NPAs at Rs 978 crore. While the bank reported NPA provisions of Rs 3,398 crore as on March-end 2019, the RBI assessed the same to be Rs 4,376 crore. The divergence in gross and net NPAs was ₹3,277 crore and 2,299 crore, respectively.

Referring to the Rs 978 crore divergence in provisioning, YES Bank, in its management commentary, said it has made provisions of Rs 346 crore up to September-end 2019. The additional provisioning requirement is Rs 632 crore.

Published on November 20, 2019

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