Yes Bank is only a few quarters away from turning a new leaf.
Here is the thread why? 🧵
(1/6)
#yesbank
Here is the thread why? 🧵
(1/6)
#yesbank
Yes Bank reported a 50.17 percent year-on-year (YoY) rise in profit after tax (PAT) at Rs 310.63 crore compared with Rs 206.84 crore in the same quarter last year.
(2/6)
#tax
(2/6)
#tax
The bank had clocked a net profit of Rs 207 crore in the year-ago period
To get an NPA Relief, YES Bank struck a deal with JC Flowers ARC, which could give the much-needed facelift for its books.
(3/6)
To get an NPA Relief, YES Bank struck a deal with JC Flowers ARC, which could give the much-needed facelift for its books.
(3/6)
On 16th July 2022, the bank rolled out the Swiss Challenge process for selling bad loans worth ₹48,000 crores to the ARC.
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(4/6)
The assets are expected to be picked up by JC Flowers for a minimum price of ₹11,000 crores, and the process could take 50–75 days to conclude
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#Q1 #profit #rises #50pc
(5/6)
#Q1 #profit #rises #50pc
The new board has recommended the appointment of Prashant Kumar as MD and CEO for three years, subject to the approval of the Reserve Bank of India and shareholders.
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#PrashantKumar #ceo
(6/6)
#PrashantKumar #ceo
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