YES Bank said that its non-performing assets (NPAs) varied from that of Reserve Bank of India’s assessment to the tune of ₹4,176 crore as at end-March 2016.
YES Bank had reported gross bad loans of ₹748.98 crore at the end of March 2016 compared with ₹4,925 crore assessed by the central bank.
“YES Bank would like to clarify that the disclosure on divergence in asset classification and provisions in NPAs in the annual audited financial statement is in conformity with the RBI circular issued on April 18, 2017, ‘Disclosure in the Notes to Accounts to the Financial Statements – Divergence in Asset Classification and Provisioning’.
“The reported divergence was for the prior period ended FY 2015-16,” the bank said in a statement.
“With ongoing remedial actions undertaken by the bank during FY 2016-17, there have been several reductions/ exits/ partial sale to ARCs/ improvements in account conduct which significantly reduced the overall gross NPA outstanding to ₹1,039.9 crore as on March 31, 2017,” it added.
The outstanding gross NPA as on March 31, 2017, includes one borrower with an exposure of ₹911.5 crore (88 per cent), which is expected to be recovered in the near term. Specific provision held in this account was ₹227.9 crore.