ICICI Bank to invest up to $135 million in crisis-hit Yes Bank. India's ICICI Bank said on Friday it will invest up to 10 billion rupees ($135 million) in troubled lender Yes Bank Ltd as part of an initial phase of a rescue deal. ICICI said it will buy 10 billion shares of Yes Bank at 10 rupees per share and hold about a 5% stake. MUMBAI/BENGALURU (Reuters) - Indian lender Yes Bank Ltd posted a 91% drop in quarterly profit on Wednesday, due to a nearly three-fold rise in provisions for loan losses, while asset quality deteriorated sharply. Net profit for the three months ended June 30 came in at 1.14 billion rupees ($16.57 million), Discover historical prices for YESBANK.BO stock on Yahoo Finance. View daily, weekly or monthly formats back to when YES BANK LTD. stock was issued. (Bloomberg) -- A 78% drop in Yes Bank Ltd. shares since August has left founder and former chief executive officer Rana Kapoor some $1 billion poorer.The Indian lender, which late Wednesday reported earnings that showed its capital buffers had weakened and bad loan ratio widened, plunged as much as 20% on Thursday. RBI says Yes Bank under-reported bad loans by $457m. India’s central bank has found that Yes Bank under-reported bad loans in the most recent financial year by Rs32.8bn ($457m), renewing scrutiny of the lender’s finances as it seeks to raise capital from global investors. Yes Bank’s problems started two years ago, when the regulator forced it to disclose that nonperforming loans were $630 million more than the $113 million reported in the company’s audited accounts for the year ended in March 2016.
India’s struggling Yes Bank reported a $2.5bn quarterly loss and rise in bad loans as authorities prepared the final stages of a rescue plan to prevent contagion through a financial system ICICI said it will buy 10 billion shares of Yes Bank at 10 rupees per share and hold about a 5% stake. At Yahoo Finance, you get free stock quotes, the latest news, portfolio management resources, international market data, social interaction and mortgage rates to help you manage your financial life.
ICICI said it will buy 10 billion shares of Yes Bank at 10 rupees per share and hold about a 5% stake.
Total Cash Per Share (mrq) 125.87: Total Debt (mrq) 931.31B: Total Debt/Equity (mrq) N/A: Current Ratio (mrq) N/A: Book Value Per Share (mrq) 113.71 Discover historical prices for YESBANK.BO stock on Yahoo Finance. View daily, weekly or monthly formats back to when YES BANK LTD. stock was issued. India’s struggling Yes Bank reported a $2.5bn quarterly loss and rise in bad loans as authorities prepared the final stages of a rescue plan to prevent contagion through a financial system
State Bank of India will pay 10 rupees for each Yes Bank share.(Updates with shares in sixth paragraph)To contact the reporters on this story: Suvashree Ghosh in Mumbai at sghosh186@bloomberg.net Discover historical prices for YESBANK.NS stock on Yahoo Finance. View daily, weekly or monthly formats back to when YES BANK stock was issued. Total Cash Per Share (mrq) 125.87: Total Debt (mrq) 931.31B: Total Debt/Equity (mrq) N/A: Current Ratio (mrq) N/A: Book Value Per Share (mrq) 113.71 Discover historical prices for YESBANK.BO stock on Yahoo Finance. View daily, weekly or monthly formats back to when YES BANK LTD. stock was issued. India’s struggling Yes Bank reported a $2.5bn quarterly loss and rise in bad loans as authorities prepared the final stages of a rescue plan to prevent contagion through a financial system ICICI said it will buy 10 billion shares of Yes Bank at 10 rupees per share and hold about a 5% stake. At Yahoo Finance, you get free stock quotes, the latest news, portfolio management resources, international market data, social interaction and mortgage rates to help you manage your financial life.