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EXECUTIVE SUMMARY. Yes Bank reported a staggering consolidated net loss of Rs 191 bn ($2.6 bn) for the 9 month period ended December 31, 2019 (for 3Q FY2020 the net loss was Rs 185.6 bn). However, even this is understated on account of the huge increase in...
In light of the moratorium on Yes Bank on March 6, 2020, Smartkarma compiled my research notes from May 15, 2017 where I had consistently highlighted my concerns on the bank to create this ebook. Special-Report-How-Independent-Research-Found-a-Fatal-Flaw-with-Yes-BankDownload
EXECUTIVE SUMMARY. The Reserve Bank of India’s (RBI)  draft scheme  for the reconstruction of Yes Bank is unlikely to restore the confidence of the bank’s depositors, especially its current and savings account (CASA) depositors, who are likely to desert the bank once the moratorium is lifted. Once...
The central bank's decision to not spell out a rationale does little in terms of adding to the ownership debate. Hemindra Hazari BANKING 12 HOURS AGO It was surely one of the more odd episodes...
EXECUTIVE SUMMARY. On February 27, 2020 the Reserve Bank of India finally approved Sumant Kathpalia as the CEO who will succeed Romesh Sobti when the latter retires on March 23, 2020. Kathpalia, who has a background in consumer finance and wealth management, will be taking charge of a bank which is...
EXECUTIVE SUMMARY. The succession fiasco at HDFC Bank reveals how the banking regulator has allowed a promoter with a minority stake to have a stranglehold on the selection of the chief executive officer (CEO) and the chairman of the bank. Strangely, the board of the bank...
EXECUTIVE SUMMARY. In a surprise capitulation, the Reserve Bank of India (RBI) has relaxed  its rules regarding the ceiling on the percentage of shares held by founders of a private bank. But it has carved out this exception for just one bank, Kotak Mahindra Bank (KMB), which...
EXECUTIVE SUMMARY. In a bizarre episode which raises critical questions regarding basic norms of corporate governance, Sandeep Parekh, independent director of HDFC Bank, took to Twitter to publicly  comment on the succession issue of the HDFC Bank CEO.  Parekh, a corporate lawyer and former Securities and Exchange...
EXECUTIVE SUMMARY. Although ICICI Bank reported a strong performance in 3QFY20, the market has ignored the increase in the deferred tax asset (DTA) which inflated the net profit by Rs 2 bn. It would have been more prudent for the bank to continue with its earlier practice...
EXECUTIVE SUMMARY. In a shocking development at HDFC Bank reported by Reuters, the bank selected Egon Zehnder, the global executive search firm, to shortlist external candidates to succeed Aditya Puri. The six-member internal search committee set up in November has been unable to reach a consensus to...