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ICICI Securities Report
YES Bank Ltd.'s Q4 FY21 loss manifests the aggravated fear of asset quality pangs post the disclosed stress pool including standstill non-performing asset, special mention accounts-1/2, restructuring, etc. of around 18% (of customer assets) in addition to gross non-performing asset exposure.
From this pool, 7% (Rs 119 billion) slipped into NPA and 1.5% (Rs 25 billion) was restructured.
Provisioning of Rs 52.4 billion towards this stress and interest reversals of Rs 7.4 billion resulted in a loss of Rs 37.9 billion.
Post the slippages, recoveries and write-offs in Q4 FY21, the bank exits FY21 with net labelled exposure of 8%, SMA-2 of 2.6%, and SMA-1 of 5%.
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