Yes Bank is the first to report this divergence after RBI increased disclosure norms for banks since it noted instances of divergences in banks’ asset classification. Yes Bank had reported gross bad loans of Rs748.98 crore at the end of March 2016 compared to Rs4,925 crore assessed by the central bank. Yes Bank shares fell by 3.5% after the lender disclosed this information in its annual report for fiscal year 2017 released on Friday. Adjusted for provisions, Yes Bank’s net profit for fiscal year 2016 would have been Rs1,978.3 crore instead of Rs2,539.4 crore. Yes Bank is the first to report this divergence after RBI increased disclosure norms for banks since it noted instances of divergences in banks’ asset classification and the provisioning required as per RBI norms.

Source: Mint May 12, 2017 07:52 UTC