Mumbai: Private sector lender Yes Bank on Wednesday said that it has not identified any material financial statement implications based on its ongoing examination of a whistleblower complaint into alleged irregularities. “The bank conducted an internal enquiry of these allegations, which was carried out by management and supervised by the board of directors. Yes Bank said that based on further inputs and deliberations in December 2018, the audit committee of the bank engaged an external firm to independently examine the matter. Yes Bank on Wednesday reported a 90.97% year-on-year (y-o-y) drop in June quarter net profit. The bank posted a net profit ₹113.76 crore for the three months ended 30 June compared to ₹1,260.36 crore in the year-ago period.

Source: Mint July 17, 2019 12:00 UTC