Yes Bank, which reported a surge in NPAs in the September quarter, feels its stressed loans situation could have been much better but for “torpedos” that hit the private sector lender.
These “torpedos” which hit his ship include exposures to Cafe Coffee Day, Altico Capital, CG Power and Cox and Kings, the bank’s chief executive Ravneet Gill has said.
“Every torpedo that got fired hit us,” he told a select group of reporters over the weekend. He said these accounts itself led to a `4,000 crore bloating of the below investment grade book to `31,000 crore from the `29,000 crore in the preceding quarter.
Gill exuded confidence that the bank does not see any jump in this book in the future, but conceded that it was keeping a similar outlook earlier as well.