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Yes Bank has issued a statement on reports stating RBI approval for holding a 20% stake in an asset reconstruction company (ARC). The bank clarified saying the report is "speculative" and "has no bonafide reference". Although, Yes Bank also revealed that they had initiated a process for Partner Selection for an ARC, however, the process is underway.
Stock exchanges had sought clarification from Yes Bank over a report claiming that RBI has given in-principle approval to the bank for holding a 20% stake in ARC.
On Wednesday, in its regulatory filing, Yes Bank said, "The Bank would like to clarify that, certain news articles reported by media carrying a reference to RBI giving in-principle approval to the Bank to hold 20% stake in ARC is speculative and has no bonafide reference."
"The Bank is not aware of the source, which resulted in the abovementioned news item and as a matter of policy, the Bank would not like to comment on such speculation," Yes Bank added.
Further, Yes Bank in the filing said, "The Bank would like to clarify that as informed earlier, the Bank had initiated a process for Partner Selection for an ARC vide calling a Public Expression of Interest. Currently, the process is underway and at this point of time, there is no binding / effective decision in this regard."
On BSE, Yes Bank shares closed at ₹13.24 apiece down by 0.75%. Its market cap is around ₹33,172.79 crore.
Recently, the bank announced provisional data of their balance sheets for the quarter ending June 30, 2022 (Q1FY23) period ahead of the result.
In Q1FY23, Yes Bank posted loans and advances of ₹186,598 crore compared to ₹163,654 crore - registering a growth of 14%. Its gross retail disbursements more than doubled to ₹11,431 crore versus ₹5,006 crore in Q1FY22. Total deposits stood at ₹193,241 crore in Q1FY23, jumping by 18.3% from ₹163,295 crore in Q1FY22, however, declining by 2% from ₹197,192 crore in Q4FY22. CASA ratio improved to 31.6% in Q1FY23 versus 28.1% in Q1FY22 but was flat compared to 31.8% in Q4FY22.