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An event that slipped by quietly is,
#Moody’s upgrading #YesBank's long-term foreign&local currency deposit ratings,from Caa1 to B3

Foreign currency senior unsecured #MTN rating of #Yes,raised from (P)Caa1 to (P)B3

Rating upgrade,follows successful #FPO,where Yes raised 15000Cr
Surprising,how mainstream media that went hammer&tong at the @narendramodi govt,in March 2020,when #YesBank collapsed,thx to a fraudulent #RanaKapoor&his ilk,is silent today,post the brilliant recovery of #Yes,coming back on track

PSB,#SBI,is doing a good job in resurrecting Yes
A significantly improved #Solvency ratio,#Moodys said, "strengthens #YesBank’s resilience to potential asset quality risks from impact of economic slowdown& #coronavirus related disruptions"

Moody's also lauded Yes Bank’s funding&liquidity that moderately improved in June'20 qtr
Read 5 tweets
German GDP down 10% in June qtr

France down 14%

Singapore minus 41%

#USGDP minus 32.9%,as per advance estimates

#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth

Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too

#SBI reported 81% jump in net profit at Rs 4189Cr

Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%

#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr

Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses

SBI made Covid related provisions worth 1836Cr inJune qtr

Total provisions against Covid related losses are 3008Cr
Read 13 tweets

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