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Share of YES Bank climbed up to 10.63% at Rs 15.19 against the previous close of Rs 13.73 on BSE. The share price zoomed over 10% within a day when the lender said it would consider fundraising via debt on June 10.
The YES bank said in a press release that a meeting of the Board of Directors of the Bank will take place on Thursday, June 10, 2021. The meeting will be held to consider and seek shareholders’ approval for borrowing/raising funds in Indian/foreign currency by issue of debt securities including non-convertible debentures. Private sector lender posted a net loss of Rs 3,788 crores in Q4 of last fiscal. This was due to the fall in income and a jump in provisions for bad lone.
The bank reported a loss of Rs 3,668 crores in quarter 4 of the last fiscal. However, the bank’s bottom line turned positive at Rs 2,628.61 crore during the January-March period of 2019-20.
Total income declined to Rs 4,805.30 crore from Rs 5,818.59 crore during the quarter in the same period in 2020.
For the full fiscal year of 2020-2021, the bank narrowed down its net loss from Rs 3,462.23 crores to Rs 16,418.02 crores.
The bank said that it plans proactive provisioning of Rs 250crores towards restructuring which is related to the Covid-19. It is expected to be implemented in the first quarter of the current fiscal year.