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

IL&FS Transportation Networks

30/04/2019 09:23

** Indian private-sector lender Yes Bank's shares  YESB.NS 
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  urn:newsml:reuters.com:*:nFWN228131
    ** Macquarie double downgrades to "underperform" from
"outperform"
    ** The bank, which lends to debt-ridden Jet Airways  JET.NS 
and IL&FS  ILFE.NS   ILFT.NS , 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)

 ((Derek.francis@tr.com))