September 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Yes Bank repays Rs 35,000 crore to RBI

Yes Bank shares hit the 5 percent upper ...

  • Mr Sunil Mehta

Yes Bank shares hit the 5 percent upper circuit in August after its Chairman said the bank has repaid Rs 35,000 crore to the Reserve Bank of India (RBI) of the special liquidity facility provided by the Central bank. In the bank’s annual report, the Chairman, Sunil Mehta, said, “I am pleased to report that the Bank has, as of date repaid Rs 35,000 crore of SLF and the balance will be repaid within the timelines set by RBI.” The RBI had extended a Special Liquidity Facility (SLF) of Rs 50,000 crore to the restructured bank. Mehta added the bank has since then received strong customer liquidity inflows. In his message to the shareholders, the Chairman also said that following the recent capital increase of Rs 15,000 crore through Further Public Offering (FPO), the bank’s Common Equity Tier-1 (CET) ratio has doubled to 13.4 per cent from 6.6 per cent at the end of June, 2020, bringing its capitalisation largely in line with the private sector peers. He also informed the shareholders that the bank is closely monitoring the stress on its credit portfolio due to legacy issues along with the current macroeconomic conditions and the Covid-19 situation.

Tags: Yes Bank

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