More strong recovery steps like Anil Ambani group in order: YES Bank

Private lender Yes Bank will take more aggressive steps to recover bad debts as failed to repay the dues to the Anil Ambani Group, whose headquarters took financial capital.

“In the coming months, you will see more such examples in different categories of borrowers. In resolution and recovery, the bank is required to follow proper legal procedure. Yes Bank CEO Prashant Kumar said that the bank has started taking action on every account (bad loan) for recovery. Business standard.

The private sector lender took over two flats owned by Anil Ambani Group in South Mumbai for non-payment of dues by Reliance Infrastructure.

Kumar said that private lenders are disposing of some properties in many other cases as well. However, he declined to elaborate on the borrowers against whom such action was going on.

The lender’s gross NPA stood at 17.3 percent in Q1FY21 compared to 16.8 percent in March 2020. The increase in the GNPA ratio increased sequentially, which declined for several reasons, such as sales declines, repayments and decreases. Fresh Disbursement.

Referring to the bank’s Q1 performance, Kumar said the year-over-year comparison was not fair as the bank was under postponement four months ago. A sequential comparison would be more appropriate. There was an increase in deposits and infusion of capital.

Its net profit for Q4FY21 stood at Rs 45.44 crore, while Q4FY20 reported a net loss of Rs 3,668.3 crore. It recorded a net profit of Rs 113.76 crore in Q1FY20. Gradually, total deposits increased to Rs 117,360 crore in June 2020 from Rs 105,364 crore in March 2020. The deposit amount was Rs 225,902 crore.

The bank, now a subsidiary of State Bank of India, received a capital of Rs 10,000 crore as a part of the rescue package denominated by the Reserve Bank of India. Later, the bank raised Rs 15,000 crore in equity capital through a follow-on-public offer. Yes Bank stock closed up 1.7 percent at 11.95 per share on the BSE.

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