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Asia BondsFIG BondsAsia - FIG - Bank Capital

Yes Bank wipes out onshore AT1s to boost capital

Survival

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.

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