YES Bank says studying SC verdict on bond write-down; to decide next steps
This story was originally published at 21:24 IST on 24 October 2026
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MUMBAI – YES Bank Ltd. Saturday said it is evaluating the implications of the recent Supreme Court judgment on its additional tier-1 bonds and will communicate its decision on the coupon payment in due course. In an exchange filing, the bank said it retains the discretion to decide on coupon payments under the terms and conditions specified in the information memoranda of the respective bonds.
Sunday was the coupon payment date for YES Bank's 9?ditional tier-1 bonds according to the information memorandum dated Oct. 17, 2017. Given that it is still assessing the Supreme Court verdict, the bank said it will communicate its decision on whether exercise of coupon discretion is required once the assessment is complete. It will then make further disclosures in accordance with the Securities and Exchange Board of India's listing regulations.
YES Bank said its day-to-day operations and customer services continue without interruption across all branches and digital channels.
The top court's ruling follows a dispute over YES Bank's write-down of INR 84.15 billion in additional tier-1 bonds issued in 2016 and 2017 as part of its March 2020 reconstruction scheme. Bondholders had challenged the write-down, and the Bombay High Court had set it aside. The bank then took the matter to the Supreme Court, which upheld the high court's decision.
On Oct. 17, Crisil Ratings said YES Bank should be able to absorb the impact of the verdict through internal accruals and by raising additional capital. The bank is expected to recognise an accounting impact of about INR 62 billion and its common equity tier-I capital ratio is likely to decline by around 250 basis points as a result.
Friday, shares of YES Bank ended at INR 15.80 on the National Stock Exchange, down 1.6% from Thursday. For the September quarter, the bank reported a net profit of INR 10.80 billion and total income of INR 105.21 billion. End
Reported by Meera Nair
Edited by Rajeev Pai
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