Yes Bank posts Q4 loss of ₹3,788 crore

Private sector lender Yes Bank on Friday posted a whopping standalone net loss of ₹3,788 crore for the fourth quarter ended March 2021 due to a fall in income and jump in provisions for bad loans.

The bank had reported a loss of ₹3,668 crore in the same period last year. However, due to the exceptional write back of ₹6,296.94 crore, the lender’s bottomline turned positive at ₹2,628.61 crore during January-March period of 2019-20. During the quarter, the total income of the bank declined to ₹4,805.30 crore from ₹5,818.59 crore in the same period a year ago, Yes Bank said in a regulatory filin. Provisions and contingencies rose to ₹5,239.59 crore against ₹4,872.34 crore.

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