April 30, 2019 / 8:26 AM / 3 months ago

BUZZ-India's Yes Bank plunges on shock qtrly loss due to bad loans

** Indian private-sector lender Yes Bank’s shares plunge 30 pct — sees its worst day in over 7 months

** The lender reports a shock quarterly loss on Friday due to rising bad loans

** Macquarie double downgrades to “underperform” from “outperform”

** The bank, which lends to debt-ridden Jet Airways and IL&FS , reports 36.62 bln rupees ($524.60 million) provisions for loan losses in March-qtr, vs 4 bln rupees a year ago

** Jefferies cuts to “underperform,” says new profitability trajectory is “far worse” owing to under-investment in retail aggressive accounting of fee and asset quality risks

$1 = 69.8060 Indian rupees

0 : 0
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