Yes Bank wipes out onshore AT1s to boost capital
Yes Bank has written down Rp84.15bn ($1.14bn) of its Basel III compliant additional tier one bonds, becoming the first Indian bank to have its AT1 notes bailed in. The move, together with capital injection from a group of banks led by State Bank of India, is expected to give a much-needed boost to the beleaguered firm’s capital ratio.
In its 2019 third quarter results announcement on March 14, Yes Bank confirmed previously mooted plans to boost its capital ratio.It will do so with a capital injection from a group of bank investors led by SBI and permanently wiping out Rp84.15bn of its Basel III ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com