Secure Your Books
“If it is too good to be true, it probably is not,” goes a popular saying people like to repeat in finance. Even if most people forget this, a clutch of retail investors who were missold exotic financial instruments by relationship managers at Yes Bank Ltd. will never do so. Over 1,300 individual investors, most … Read more
A consortium of Cerberus Capital Management and Asset Reconstruction Company of India Ltd. have decided to withdraw from the race for Yes Bank Ltd.’s Rs 48,000-crore stressed accounts. The Cerberus-Arcil consortium failed to submit a bid earlier this week in the swiss challenge auction for the bad loans, which now stands concluded, according to two … Read more
Private sector lender Yes Bank Ltd. saw a 50% year-on-year jump in net profit for the quarter ended June 30, owing to higher core income and lower provisions. Net profit for the quarter stood at Rs 311 crore, compared with Rs 207 crore a year ago. Analysts polled by Bloomberg estimated a net profit of … Read more
Till now, an external benchmark-linked rate has been popular on the lending side, but the same was not the case for deposits.