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Yes Bank’s Bad Loans Double In March Quarter

Yes Bank Ltd. reported a surge in the quantum of bad loans during the January-March quarter as the lender was prompted by the regulator to recognise one large account as a non-performing asset. The disclosure came in the notes to accounts following a new rule introduced by the Reserve Bank of India (RBI) which asks banks to disclose any large divergence between their assessment of bad loans and the regulator’s.

The bank’s gross non-performing assets (NPAs) in absolute terms doubled to Rs 2,018.56 crore compared to Rs 1,005.9 crore in the previous quarter. In percentage terms, the gross NPA figure stood at 1.52 percent of the loan book compared to 0.85 percent last quarter. Net NPAs for the bank stood at 0.81 percent compared to 0.29 percent sequentially.

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