Yes Bank scales up Covid-related provisioning to Rs 1,918 Cr in Q2FY21

Mumbai, Oct 25 : Yes Bank has increased its covid-related provisioning to Rs 1,918 crore in the July-September quarter.
In its investor presentation, the bank said that the total aggregate Covid-related provision is 1.15 per cent of the total advances and provides for potential slippages from the above exposures including potential interest reversals.
In the July-September quarter, the bank made a covid-related provisioning of Rs 1,038 crore taking the cumulative provisioning for covid at Rs 1,918 crore.
The bank said that its balance sheet consolidation continues while improving granularity and liability profile.
It noted that its capital position significantly strengthened by the successful raising of Rs 15,000 crore through FPO. It further said that RBI special liquidity facility of Rs 50,000 crore has been fully repaid.
The bank also raised long term refinance borrowing in excess of Rs 5,500 crore.