yes bank fundraise: YES Bank board to consider fundraising via debt

The lender plans to raise funds in Indian/foreign currency through the issue of debt securities. The options could be non-convertible debentures (NCDs), bonds or Medium Term Note (MTN) among others, the company filing said.

In a meeting held on Tuesday, the board also considered and approved a draft notice of the annual general meeting (AGM) to be held on August 23, 2024.

The announcement was made after market hours and the YES Bank shares on Tuesday ended at Rs 24.08, down by Rs 0.12 or 0.50%.

The private lender’s shares have gained 50% over the past one year outperforming the Bank Nifty, which has delivered 21% returns in the said period. However, the stock has underperformed the banking gauge in 2024 with 6% returns, which are lower from 9% yielded by the latter. YES Bank had reported a standalone net profit of Rs 452 crore for the quarter ended March 31, 2024, which jumped 123% over Rs 202.43 crore reported by the lender in the year-ago period. The lender earned interest income of Rs 7,447.17 crore up from Rs 6,216.24 crore reported in the corresponding quarter of the last financial year. This was a 20% YoY jump.Interest expended during the reported quarter stood at Rs 5,294.15 crore, which was up from Rs 4,111 crore. It was up 29% on the YoY basis.For the full financial year the standalone net profit stood at Rs 1,251 crore which is up from Rs 717.40 crore in Q3FY24. This is a 74% YoY jump over the last financial year. Total income for FY24 stood at Rs 32,700 crore which was up from Rs 26,382.49 crore.