 Photo by Naveed Ahmed via Pexels.
        
                    Photo by Naveed Ahmed via Pexels.
            India’s Yes Bank saw profit drop 80% in Q4 2022: report
The bank aims to recover INR10b in the current quarter, its chief executive said.
India’s Yes Bank reported an 80% plunge in quarterly profit on Saturday, resulting from the bank beefing up provisions for bad loans.
Net profit fell to $6.36m (INR 515.2m) for the three months that ended 31 December. In Q4 2021, Yes Bank had reported a net profit of INR2.66b.
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The drop came as a surprise as analysts had expected profit to rise to INR3.36b, according to Refinitiv IBES data.
The bank aims to recover around INR10b, chief executive Prashant Kumar said in a call on Saturday.
Read more from Reuters.
 
  
                     
  
                     
                                       
                                       
                                       
                                       
                                                           
                                                           
                                                           
                                                           
           
                                 
                                 
                                 
               
                                     
                                     
                                     
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
                             
                     
                             
                     
                             
                             
                     
                             
                 
                 
                 
                 
                 
                 
                