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Yes Bank shares soar 5% on repayment of Rs 35,000 cr to RBI
Yes Bank shares soar 5% on repayment of Rs 35,000 cr to RBI (Photo/IANS)
Yes Bank shares hit the 5 per cent upper circuit on Wednesday after its Chairman said the bank has repaid Rs 35,000 crore to the Reserve Bank of India
Mumbai: Yes Bank shares hit the 5 per cent upper circuit on Wednesday after its Chairman said the bank has repaid Rs 35,000 crore to the Reserve Bank of India (RBI) of the special liquidity facility provided by the Central bank.
At 11.27 a.m., shares of Yes Bank on the BSE were at Rs 15.78, higher by 4.99 per cent from its previous close.
In the bank's annual report, the Chairman, Sunil Mehta, said, "I am pleased to report that the Bank has, as of date repaid Rs 35,000 crore of SLF and the balance will be repaid within the timelines set by RBI."
The RBI had extended a Special Liquidity Facility (SLF) of Rs 50,000 crore to the restructured bank. Mehta added the bank has since then received strong customer liquidity inflows.
In his message to the shareholders, the Chairman also said that following the recent capital increase of Rs 15,000 crore through Further Public Offering (FPO), the bank's Common Equity Tier-1 (CET) ratio has doubled to 13.4 per cent from 6.6 per cent at the end of June, 2020, bringing its capitalisation largely in line with the private sector peers.
He also informed the shareholders that the bank is closely monitoring the stress on its credit portfolio due to legacy issues along with the current macroeconomic conditions and the Covid-19 situation.
