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Yes Bank faces Rs.5,200 crore hit after AT-1 bond write-off ruling
Original: Sumitomo-backed Yes Bank faces up to Rs.5,200 crore earnings hit as SC upholds squashing of its AT-1 bonds write-off
Yes Bank, backed by Japan's Sumitomo Mitsui Banking Corporation, is facing an earnings impact of up to Rs.5,200 crore after the Supreme Court upheld the quashing of its 2020 write-off of additional tier-1 (AT-1) bonds. The ruling means the bank must now account for the bonds it had written down during its reconstruction, weighing on its earnings outlook.
Why now: The Supreme Court's ruling has immediate financial consequences for the bank and wider implications for AT-1 bondholders and Indian banking.
Yes BankSumitomo Mitsui Banking CorporationSupreme Court of India
Evidence
- Sumitomo-backed Yes Bank faces up to Rs.5,200 crore earnings hit as SC upholds squashing of its AT-1 bonds write-off · TradingView
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