YES BANK Falls 5%
1:12 pm NPA issue: In keeping with RBI's directive to banks on disclosure of divergences, Yes Bank reported Rs 4176.7 crore in gross non-performing assets in stark contrast to RBI's assessment of Rs 4176.7 crore for March 2016. The net NPAs, according to the annual report of the bank, were at Rs 3318.7 crore.
Explaining the RBI's assessment, Rana Kapoor, Yes Bank’s MD and CEO mentioned that the gross NPAs increased largely due to one single cement borrower (Jaiprakash Associates), the exposure to which stood at Rs 911 crore (88 percent of gross NPAs).”
Yes Bank’s gross NPAs as on March 2016 stood at Rs 750 crore while gross NPAs assessed by RBI were at Rs 4925.7 crore. Net NPAs for the bank were at Rs 284.5 crore, while RBI’s assessment for net NPAs stood at Rs 3603.1 crore.