{"id":1240,"date":"2019-11-04T18:08:53","date_gmt":"2019-11-04T18:08:53","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/11\/04\/why-yes-banks-npas-rose-4-fold-in-a-year-ceo-ravneet-gill-tells-reasons-behind-rising-slippages\/"},"modified":"2019-11-04T18:08:53","modified_gmt":"2019-11-04T18:08:53","slug":"why-yes-banks-npas-rose-4-fold-in-a-year-ceo-ravneet-gill-tells-reasons-behind-rising-slippages","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/11\/04\/why-yes-banks-npas-rose-4-fold-in-a-year-ceo-ravneet-gill-tells-reasons-behind-rising-slippages\/","title":{"rendered":"Why YES Bank&#8217;s NPAs rose 4-fold in a year; CEO Ravneet Gill tells reasons behind rising slippages"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1750755\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1.jpg\" alt=\"Yes Bank Stock Rose, Yes Bank, \u092f\u0938 \u092c\u0948\u0902\u0915, yes bank received investment offer, binding offer for stake purchase, yes bank market cap, investors wealth\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1750755\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1.jpg\" alt=\"Yes Bank Stock Rose, Yes Bank, \u092f\u0938 \u092c\u0948\u0902\u0915, yes bank received investment offer, binding offer for stake purchase, yes bank market cap, investors wealth\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/yesbank660-1-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">For the three months to September in FY20, a sharp increase in bad loans, higher provisions and one-time deferred tax assets (DTA) dented YES Bank\u2019s earnings.<\/span><\/figure>\n<\/div>\n<p>YES Bank\u2019s MD &amp; CEO Ravneet Gill said that unfortunate circumstances that were difficult to anticipate including crisis at Cox &amp; Kings, CG Power, and CCD led to a rise in slippages for the private lender in Q2FY20, CNBC TV-18 reported. These troubled firms were not victims of the ongoing economic slowdown but financial trouble brewing in these firms, he said. Adding, he said that such events had a negative impact on a company\u2019s credit profile in the second quarter of the ongoing fiscal. Such incidents are difficult to anticipate, Ravneet Gill noted.<\/p>\n<p>For the three months to September in FY20, a sharp increase in bad loans, higher provisions and one-time deferred tax assets (DTA) dented YES Bank\u2019s earnings, leading to a net loss of Rs 600 crore. While DTA adjustment was worth Rs 709 crore, provisions rose to Rs 1,336 crore in the quarter under review.<\/p>\n<p><a href=\"https:\/\/www.financialexpress.com\/market\/share-market-today-live-updates-sensex-nifty-rupee-vs-dollar-tax-cut-buzz-modi-04-nov-2019-monday\/1753529\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>Also read: Share Market LIVE: Sensex soars to fresh record high, Nifty nears 12,000<\/b><\/a><\/p>\n<p><b>NPA rise<\/b><\/p>\n<p>Gross non-performing assets (NPAs) saw a huge surge, jumping over four-fold to Rs 17,134 crore as against Rs 3,866 crore in the corresponding period of the previous year. NPA percentage soared from 0.84 per cent in Q2 FY19 to 4.35 per cent in Q2FY20. \u00a0 Taking stock of matter, investment advisor Sandip Sabharwal tweeted: \u201cDisastrous asset quality trends in @YESBANK The previous management was hiding NPAs like crazy.@<a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a> should take action against them.\u201d<\/p>\n<p><b>Binding offer<\/b><\/p>\n<p>On the binding offer worth $1.2 billion that YES Bank received last week, Ravneet Gill said that it was backed by a \u201clarge US financial institution.\u201d \u201cThe bank should be able to announce details of binding bid in a few days,\u201d he also told CNBC TV-18.<\/p>\n<p><b>Rana Kapoor\u2019s share sale<\/b><\/p>\n<p>On Rana Kapoor\u2019s recent share sale, Ravneet Gill said that the shares were completely bought by retail shareholders. There is no warehousing in Rana Kapoor\u2019s share sale, he added. On October 1, 2019, the promoters told stock exchanges that they have sold another 2.16 per cent stake in the bank. YES Capital (India), Morgan Credits Private and Rana Kapoor together sold 552 lakh shares or 2.16 per cent stake in the open market during September 26-27.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-269789403\"><div id=\"jobbi-1307350090\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] For the three months to September in FY20, a sharp increase in bad loans, higher provisions and one-time deferred tax assets (DTA) dented YES Bank\u2019s earnings. YES Bank\u2019s MD &amp; CEO Ravneet Gill said that unfortunate circumstances that were difficult to anticipate including crisis at Cox &amp; Kings, CG Power, and CCD led to [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1240"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1241"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}