SC ruling deals a heavy blow to Yes Bank's capital
The Supreme Court's recent ruling has dealt a significant blow to Yes Bank, the Indian lender in which Sumitomo Mitsui Banking Corp (SMBC) holds a controlling stake. The court's decision to reverse the write-down of over $800 million in additional Tier-1 (AT-1) bonds has dealt a heavy hit to Yes Bank's core capital, or Common Equity Tier-1 (CET1) buffer.
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