Page 11 - Yes Bank

Sebi issues Rs 2.22 cr demand notice to YES Bank's former MD Rana Kapoor

Sebi on Tuesday sent a notice to Yes Bank's former MD and CEO Rana Kapoor asking him to pay Rs 2.22 crore in a case of misselling the lender's AT-1 bonds and warned of arrest if he fails to make the payment within 15 days. The regulator also warned that his assets and bank accounts would be attached in case the payment is not made within the stipulated time. The case relates to misselling of the bank's AT-1 (Additional Tier-1) bonds to retail investors by the bank's officials. It was alleged that the bank and certain officials did not inform investors about the risk involved while selling the AT-1 bonds in the secondary market. The sale of AT-1 bonds started in 2016 and continued till 2019. The demand notice came after Kapoor failed to pay the fine imposed on him by the Securities and Exchange Board of India (Sebi) in September 2022. In a notice issued on Tuesday, Sebi directed Kapoor to pay Rs 2.22 crore, which includes interest and recovery cost, within 15 days. In the event

YES Bank shares ends over 3% lower after June quarter earnings of 10%

Yes Bank shares on Monday ended more than 3 per cent lower due to higher provisions numbers which curtailed its net profit growth to 10 per cent in the June quarter. Yes Bank shares declined 3.65 per cent to close at Rs 17.40 apiece on the BSE. A similar movement was also seen on the NSE, where the stock witnessed heavy sell-off pressure at higher levels in the early trade and tanked 3.60 per cent to settle at Rs 17.40 per share. During the day, the stock witnessed a high of Rs 18.45 per piece on the exchange. In volume terms, 27.46 crore equity shares were traded on the NSE, while 4.59 crore shares were traded on the BSE. On Monday, the 30-share BSE Sensex settled 299.48 points or 0.45 per cent lower at 66,384.78 points. SBI-controlled Yes Bank has reported around two-fold rise in provisions for bad loans to Rs 360 crore in the June quarter as a large real estate borrower with Rs 400 crore dues became a dud loan during the quarter. This was because fresh slippages jumped to Rs 1

Stocks to Watch: RIL, ICICI Bank, Paytm, IGL, Biocon, YES Bank, Cyient DLM

Stocks to Watch on July 24, 2023: Tata Steel, HDFC AMC, Canara Bank, IDBI Bank, TVS Motor will announce their Q1 results today

YES Bank Q1 net rises 10% to Rs 342 crore, net interest income up 8%

Net interest income - the difference between interest earned and interest expended - grew by 8.1per cent to Rs 2,000 crore

YES Bank's net profit rises 10.3% in Q1, NII grows 8.1% to Rs 2,000 cr

YES Bank's provisions and contingencies, net of recoveries made against loan accounts written off as bad, more than doubled to Rs 360 crore from Rs 175 crore a year earlier

Subhash Chandra moves to get family's stake in Dish TV back from JC Flowers

With JC Flowers ARC's 24.19% stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2%, if the transaction goes forth

DHFL-YES Bank case: Wadhawan denied bail; his delay for police escort noted

Dheeraj Wadhawan, one of the promoters of DHFL currently in jail in a case pertaining to alleged fraud connected to Yes Bank, was denied medical bail by a special court which observed he had not paid Rs 24 lakh for police escort provided to him during his long hospitalisation. In his order of July 14, the details of which were made available on Monday, the special CBI judge MG Deshpande noted that the police had to knock the doors of the court to recover this amount. The judge said the illness for which medical bail has been sought doesn't require any long hospitalization or interim bail, adding that the gravity and magnitude of the alleged offence committed by the accused cannot be ignored. In his plea, Wadhwan sought medical bail on the grounds that he has serious heart related medical issues, citing he had suffered a massive heart attack at the age of 38 in January, 2018, which required emergency angioplasty in Switzerland. The court, however, said medical science was more advan

Barclays and Yes Bank raise India's inflation forecast as prices jump

Surging prices of vegetables and pulses pushed up inflation to a three-month high of 4.81% last month, ending four months of moderation

Fresh legal battle brews between Dish TV and lenders on board recast

Lenders, who own a majority stake in the company, have called for removal of the existing two-member board of S Aggarwal and Rashmi Aggarwal

Yes Bank's loan book grows 7.5% to Rs 2 trn in quarter ending June

It deposits grew 13.5 per cent YoY to Rs 2.19 trillion at end of June 2023

FEMA case: Reliance ADA Group chairman Anil Ambani appears before ED

Reliance ADA Group Chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) here in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in the Ballard Estate area to record his statement in the case, registered under various sections of the Foreign Exchange Management Act (FEMA), they said. Further details of the case in which Ambani was summoned were not immediately known. The industrialist had appeared before the ED in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others.

YES Bank-DHFL scam: Court says nation is victim, denies bail to realtor

A special CBI court here has denied bail to Pune-based builder Avinash Bhosale in connection with a case pertaining to the Yes Bank-DHFL scam, saying the nation is the victim of cheating and criminal conspiracy. The court said that prima facie Bhosale's involvement in this serious economic offence is deep-rooted. While Special Judge M G Deshpande denied bail to Bhosale on June 23, the detailed order was available on Tuesday. The court said that Yes Bank's money, which is basically public money and the wealth of the nation, was usurped. The bank was cheated by wisely hatching criminal conspiracy by accused persons. Money of Yes Bank is the wealth of the Nation. Nation is victim of this offence of cheating and criminal conspiracy, the court said, declining to give relief to Bhosale. The special judge said that the way the fraud was committed, granting bail to the applicant (Bhosale) is not safe and there is every possibility of spoiling the case by tampering with the evidence and ..

Moody's affirms Yes Bank's ratings, financial performance to remain stable

Moody's Investors Service on Friday said it has affirmed Yes Bank's ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months. The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at 'Ba3', with a stable outlook. "The rating affirmation and stable outlook is driven by the improvement in India's macro profile to 'moderate+' from 'moderate', along with Moody's expectation that Yes Bank's financial performance will remain stable over the next 12-18 months," Moody's said in a statement. The agency expects Yes Bank's asset quality to be stable as the bulk of its legacy problem assets have been resolved, while India's good economic momentum will support the performance of its newly originated loans. The bank's gross non-performing loan ratio declined to 2.2 per cent at the end of March 2023 from 13.9 per cent a year earlier, following its sale of non-performing loans (NPL)

RBI rejects Akash Suri's appointment as CEO of JC Flowers Yes Bank: Report

In a major setback to Yes Bank, sources close to developments have revealed that the Reserve Bank of India (RBI) has rejected the appointment of Akash Suri as the CEO of the JC Flowers Yes Bank ARC

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

"We would aim to improve the overall ratio of current account savings account (CASA) deposits further. There is a huge opportunity available there," Prashant Kumar said

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

Yes Bank is targeting a credit growth of 15% to 20% for fiscal 2024

India to have 87% EVs by 2047 with policy boost: FICCI-YES Bank report

For cost alleviation and investment drive, the report suggests demand incentives till significant xEV penetration and emissions-based taxation, while also creating credit pathways for financing xEVs

CBI files case against IL&FS Transportation Network for defrauding 19 banks

The fraud done by IL&FS Transportation Network Ltd (ITNL) and its directors came to light in 2018 after the National Company Law Tribunal (NCLT) appointed a new board of directors

YES Bank brand makeover: Spending on advertising activities to surge 30%

The bank launched a tweak in its logo

Yes Bank plans to increase advertisement spend by 30% in FY24: Official

Yes Bank is planning to up the ante on marketing and will be spending 30 per cent higher on advertising activities in FY24, a senior official said on Tuesday. Without sharing the amount it will be spending, chief marketing officer Nipun Kaushal said the bank was tactical in its spending in the last two years as it got the house in order after being bailed out by peers. In FY24, its advertising spends will be 30 per cent higher than in the previous year, Kaushal told reporters here on the sidelines of a bank event, adding that the exact spends can vary because the rates can differ at the time of booking properties. The bank's retail franchise has achieved a critical scale and it is at an inflection point now, its executive director Rajan Pental said, adding that the profitability will go higher from here. Kaushal said the marketing campaign which it is embarking on from June 20 and which will last till end of the fiscal year with a long tail of digital advertising efforts, is design