Hot Pursuit     08-Jun-22
Yes Bank initiates process for formation of alternate board
Yes Bank said that its board has recommended constitution of alternate board for approval of shareholders at the ensuing AGM.

The board of directors of the bank has resolved to convene the 18th annual general meeting (AGM) of the bank on Friday, 15 July 2022.

On the back of Yes Bank's turnaround and having achieved significant progress post the implementation of the Yes Bank Reconstruction Scheme March 2020, the board of directors of the bank appointed under the reconstruction scheme, have recommended to its shareholders, the formation of an alternate board in line with the directions of the scheme.

The alternate board is being constituted and will operate under the applicable laws & regulations as against the current board which was constituted and is functioning under the ambit of the reconstruction scheme.

Commenting on the occasion of the board's decision on forming the alternate board, the chairman of the board, Sunil Mehta, said “YES Bank today accomplishes a significant milestone of coming out of the reconstruction scheme by initiating the process of formation of the alternate board.

The most satisfying and fulfilling outcome for us has been the renewed business momentum and trust we have regained with our customers, employees, regulators, investors and all our stakeholders. As demonstrated over the last several quarters, the Bank is now ready to grow profitably and sustainably…. The bank now is fully ready to achieve its long term growth trajectory under the direction of the alternate board being formed.”

Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.

The bank reported net profit of Rs 367.46 crore in Q4 FY22 as against net loss of Rs 3,787.75 crore reported in Q4 FY21. The private bank's total income rose 21.3% to Rs 5,829.22 crore in Q4 FY22 over Q4 FY21.

The scrip advanced 0.76% to currently trade at Rs 13.18 on the BSE.

Previous News
  Yes Bank
 ( Results - Analysis 22-Jan-23   11:07 )
  Yes Bank gains after recording over 14% YoY growth in loans in Q4; deposits at Rs 2.66 lakh crore
 ( Hot Pursuit - 03-Apr-24   09:23 )
  Yes Bank to hold board meeting
 ( Corporate News - 04-Jul-24   10:20 )
  Yes Bank announces resignation of Country Head - Stressed Asset Management
 ( Corporate News - 29-Sep-23   19:25 )
  Yes Bank slumps after Q3 PAT drops 80% YoY
 ( Hot Pursuit - 23-Jan-23   09:51 )
  Yes Bank sees robust deposit growth, CASA ratio shows sequential improvement
 ( Hot Pursuit - 03-Jan-24   09:49 )
  Yes Bank gains after deposits rise to Rs 2.19 lakh crore in Q1; advances up 7.5% YoY
 ( Hot Pursuit - 05-Jul-23   09:30 )
  Yes Bank appoints Prashant Kumar as MD and CEO
 ( Corporate News - 07-Oct-22   09:25 )
  Yes Bank to raise Rs 8,900 cr from two global private equity investors
 ( Hot Pursuit - 30-Jul-22   09:33 )
  Yes Bank FPO ends with 93% subscription
 ( Hot Pursuit - 18-Jul-20   08:55 )
  Yes Bank to declare Quarterly Result
 ( Corporate News - 20-Apr-21   13:44 )
Other Stories
  Waaree Renewable gains on bagging solar project
  15-Jul-24   15:49
  HDFC Life Q1 PAT climbs 15% YoY to Rs 478 cr
  15-Jul-24   15:45
  HDFC AMC hits record high after Q1 PAT rises 26% YoY to Rs 604 cr in FY25
  15-Jul-24   15:36
  Shipping Corporation of India Ltd leads losers in 'A' group
  15-Jul-24   15:00
  Bank of Maharashtra rallies after Q1 PAT climbs 46% YoY to Rs 1,293 cr in FY25
  15-Jul-24   14:49
  Mishtann Foods drops after Q1 PAT grows 3.4% YoY
  15-Jul-24   14:48
  Sheetal Cool Products Ltd leads losers in 'B' group
  15-Jul-24   14:45
  Volumes spurt at Godfrey Phillips India Ltd counter
  15-Jul-24   14:30
  MTNL hits 52-week high on appointing Ravi A Robert as the CMD
  15-Jul-24   14:18
  Capital Goods stocks edge lower
  15-Jul-24   14:00
Back Top