YES Bank posts first-ever quarterly loss of Rs 1,507 cr due to bad loans

Private lender YES Bank posted its first quarterly loss, of Rs 1,507 crore, during the January-March 2019 period on account of a fall in non-interest income and a sharp increase in provisioning for bad loans. Sources say the higher provisioning was mainly due to defaults by the Infrastructure Leasing & Financial Services (IL&FS) group and Jet Airways. It had reported a net profit of Rs 1,179 crore in the fourth quarter of FY18.

For the full year, the bank's net profit more than halved to Rs 1,709.3 crore from Rs 4,233 crore in 2017-18. 

The bank’s results, the first under