Yes Bank's AT1 ghost returns with ₹5,217 cr bill
Yes Bank's AT1 bonds, totaling ₹5,217 crore, are set to resurface as the bank faces financial implications from a recent Supreme Court ruling overturning the write-off. The lender, 24.9% owned by Japan's Sumitomo Mitsui Banking Corporation, reported a net profit of ₹1,080 crore for the July-September quarter but has yet to account for the AT1 bonds' impact.
The pro forma figures, described as indicative and unaudited, suggest a CET-1 ratio of 11.4% and a negative return on assets at 4.3%. Managing Director Vinay Tonse stated that the bank is carefully evaluating the consequential actions, financial and regulatory implications, and legal remedies.
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