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Clues by NC Team • 16 Feb 2019, Saturday

In a first of its kind, the RBI has come down heavily on Yes Bank for making public certain portions of the confidential Risk Assessment Report (RAR) and sees it as a deliberate attempt by the private lender to mislead the public”. On February 13, Yes Bank had cited the report in a press release and said the RBI has found nil divergences in its asset classification and provisioning in 2017-18. However, it chose to withhold the fact that the RAR also identified several other lapses and regulatory breaches in various areas of the Bank's functioning.  

Clues by NC Team • 14 Feb 2019, Thursday

The RBI has given a clean chit to Yes Bank, clearing it of any divergence in bad loan, the private-sector lender said on Wednesday. “The report observes NIL divergences in the bank’s asset classification and provisioning from the RBI norms,” Yes Bank said. Against the Rs 748.98-crore of gross NPAs reported by Yes Bank as on March 31, 2016, the RBI assessment showed the tally at Rs 4,925.68 crore, leading to a divergence of Rs 4,176.70 crore. This divergence further increased to Rs 6,335 crore in FY17 and led to curtailment of former CEO Rana Kapoor's tenure by the RBI.

Read More at The Economic Times
Clues by NC Team • 1 Feb 2019, Friday

Rana Kapoor's reign as the MD and CEO of Yes Bank, which was co-founded by him, ended unceremoniously on Thursday. The RBI had last September asked him to leave office by January 31. The private sector lender on Thursday appointed its non-executive director Ajai Kumar as his interim successor for a month till Ravneet Singh Gill from Deutsche Bank India takes over from March 1. Ajai Kumar had led state-run Syndicate Bank in the past.

Read More at Millenium Post
Clues by NC Team • 28 Jan 2019, Monday

The YES Bank stock fell in afternoon trade today after investors, traders booked profit in the scrip which surged 11.09% in two sessions last week. The large cap stock gained 11.09% in two sessions after the lender named Ravneet Singh Gill as its CEO and MD on Thursday last week. It rose to intra-day high of 223.20 in trade today. However, the stock is trading 48.16% lower from its 52-week high of 404 level.

Read More at Business Today
Clues by NC Team • 25 Jan 2019, Friday

Ravneet Gill, the new CEO of YES Bank, is an avid admirer of art besides being cricket crazy. Gill will succeed Rana Kapoor, whose term has been cut short by the RBI till January 31, 2019. Gill has played competitive cricket and also knows many Indian cricketers. Kapil Dev used to be his favourite. Among the current lot, MS Dhoni, Shikhar Dhawan and Virat Kohli are his favourites. Gill has handled capital markets, treasury, structured finance, foreign exchange, transaction banking, risk management and private banking. Gill had joined Deutsche Bank in 1991 and became its India CEO in 2012.  

Read More at The Economic Times
Clues by NC Team • 24 Jan 2019, Thursday

Yes Bank on Thursday reported a 6.96% fall in net profit to Rs 1,001.85 crore in the quarter ended December 2018 as against the net profit of Rs 1,076.87 crore in the corresponding quarter last year. The bank on Thursday also named Ravneet Singh Gill, currently heading Deutsche Bank India, as the MD and CEO to succeed Rana Kapoor, whose term ends on January 31. The lender’s net interest income (NII) grew 41.2% year-on-year (y-o-y) to Rs 2,666.4 crore. Gross NPA increased to 2.1% of the total advances in the quarter, as compared with 1.72% in the year-ago period. 

Read More at Business Today
Clues by NC Team • 24 Jan 2019, Thursday

YES Bank on Thursday said Ravneet Singh Gill will succeed Rana Kapoor as its MD and CEO. The private lender said it has received RBI approval for the same. Gill, who is the CEO of Deutsche Bank’s India operations, will join the company on or before March 1, 2019. Following the report, the stock surged over 5% in trade. 

Read More at The Economic Times
Clues by NC Team • 24 Jan 2019, Thursday

Shares of YES Bank were trading lower ahead of its December quarter earnings announcement on Thursday. Analysts expect the private lender to report higher slippages and loan provisions for its exposure to the IL&FS group. The announcement regarding an update on the appointment of a new MD and CEO at YES Bank is also awaited. The private lender has been on the hunt for a new CEO since founder Rana Kapoor was denied three-year term in September last year by the RBI.

Read More at The Economic Times
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