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YES Bank’s auditors said the results do not reflect the financial impact of the Supreme Court judgment, adding that had such impact been recognised, the reported financial performance of the Bank may have been “materially different.” The Supreme Court on October 15 upheld the Bombay High Court’s judgment setting aside the bank’s 2020 decision to write down the AT1 bonds and dismissed appeals filed by the bank, its former administrator, the RBI and the Union government. YES Bank said it was evaluating the financial and accounting implications of the judgment as well as legal remedies available to it. The bank said the pro-forma AT1 adjustment would reduce its net worth to 46,970 crore from the reported 53,268 crore, while borrowings would increase to 86,149 crore from 77,734 crore. Its pro-forma return on assets for the quarter would fall to negative 4.3% from the reported 0.9%. Vinay Tonse, MD and CEO of the bank, said, “We are examining it in detail and will take appropriate steps in accordance with the applicable legal and regulatory requirements.” ET had reported on October 17 that the bank and the RBI are considering a review petition on the ruling. Net profit for the second quarter rose on the back of higher income and improved asset quality. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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