Yes Bank's ₹1,080 cr Q2 profit masks ₹5,217 cr loss
Business
Yes Bank just reported a big win: its second-quarter net profit soared 65% to ₹1,080 crore, thanks to better interest income and fewer bad loans.
But here's the twist: if you factor in the recent Supreme Court decision about its AT1 bonds, the bank actually would have faced a huge loss of ₹5,217 crore this quarter.
SC backs ₹8,415 cr AT1 write-down
The Supreme Court backed an earlier decision that forced Yes Bank to write down ₹8,415 crore worth of AT1 bonds.
The bank is now figuring out what this means for its finances and legal game plan.
For now, its capital levels are still solid by regulatory standards, and it is working with lawyers to decide its next move.