YES BANK LTD.

Yes Bank Limited has filed a review petition before the Hon'ble Supreme Court of India, seeking a review of the court's judgment and order dated October 15, 2026. This judgment pertains to the write-down of Additional Tier-1 (AT1) Bonds, which aggregated to ₹38,415 crore. The bank had previously made several disclosures regarding this matter between October 15 and October 30, 2026. Yes Bank will continue to provide updates on material developments as required by SEBI regulations.

Yes Bank Ltd has received a letter from Axis Trustee Services Limited, the trustee for its Additional Tier-1 (AT-1) Bonds, demanding the reinstatement of these bonds within three days. This follows a Supreme Court judgment on October 15, 2026, which upheld the Bombay High Court's decision to quash the write-off of ₹8,415 crore in AT-1 Bonds. The trustee has warned of contempt proceedings if the bank fails to comply. Yes Bank has responded, acknowledging the judgment and reiterating its commitment to comply with applicable law while examining the implications in detail. The bank will continue to make necessary disclosures.

Yes Bank Ltd is reviewing a judgment from the Hon'ble Supreme Court of India concerning its Additional Tier-1 (AT-1) Bonds. The bank previously disclosed its examination of the judgment on October 15, 16, and 18, 2026. While assessing all available options and potential actions, Yes Bank confirmed its right to exercise coupon discretion on these bonds as per their terms. The bank has also received inquiries from bondholders regarding coupon payments. The coupon payment date for the 9% YBL AT-1 Bonds was October 18, 2026. Yes Bank will announce its decision on coupon discretion after completing its evaluation, with further disclosures to follow. The bank assures that its daily operations and customer services remain unaffected.

Yes Bank Ltd has issued a clarification regarding its previous disclosure dated October 17, 2026. The company inadvertently stated that the Joint Statutory Auditors issued an Audit Report with a modified opinion on the standalone and consolidated financial results for Q2 and Half Year ended September 30, 2026. The corrected statement clarifies that the auditors expressed a qualified conclusion in their Limited Review Report on the unaudited financial results for the same period. No other information in the prior disclosure has changed.

Yes Bank Limited announced the appointment of Mr. Paul Verghese Parambi as an Additional (Independent) Director for a term of four years, effective November 06, 2026, subject to shareholder approval. Mr. Parambi brings over 36 years of experience in financial services, including leadership roles at Kotak Mahindra Group, where he served as Group Chief Risk Officer and was involved in strategy and international business expansion. He is not related to any existing directors and is not debarred from holding a directorship by any regulatory authority.

Yes Bank Limited has announced the appointment of Mr. Sai Venkataramana Kosuri as the new Chief Vigilance Officer (CVO) and Senior Management Personnel (SMP) of the Bank, effective November 25, 2026. Mr. Kosuri, who currently serves as Head Legal – Retail and Business Banking, brings over 22 years of legal experience in the banking and financial services industry. He will be appointed for a term of 3 years, until November 24, 2029. Concurrently, Mr. Harish Sehgal, who has been serving as the interim CVO since September 16, 2026, will demit his interim role on November 24, 2026, and will continue as Head – AML & Principal Officer, ceasing to be classified as an SMP. The Board of Directors approved this change at their meeting held on October 17, 2026.

Yes Bank Limited announced that its Board of Directors, in a meeting held on October 17, 2026, considered and approved the Un-Audited Standalone and Consolidated Financial Results for the Quarter (Q2) and Half Year ended September 30, 2026. The bank confirmed that proceeds from non-convertible debt securities have been fully utilized as per disclosure documents. The Joint Statutory Auditors issued a modified opinion on the financial results.

YES Bank's consolidated net profit rose 63.2% YoY to ₹1,084 Cr in Q2 FY27 (from ₹664 Cr a year ago) on interest income (revenue) of ₹8,650 Cr, up 17.1% YoY — comfortably ahead of our pre-result preview's ~₹1,100+ Cr expectation range, essentially in line. Sequentially the print was flat: PAT rose just 1.1% QoQ versus ₹1,072 Cr in Q1 FY27, even as revenue grew a faster 7.4% QoQ, so the YoY strength is the real story while the quarter-on-quarter trajectory has stalled. Standalone PAT of ₹1,080 Cr tracks within 0.4% of the consolidated number, so the two bases tell the same story. Margins expanded YoY but compressed sequentially: net profit margin was 10.23% of total income versus 7.29% a year ago but down from 10.80% in Q1 FY27, and operating margin (on interest income) was 19.46% versus 17.73% YoY but down from 21.17% QoQ. The QoQ squeeze shows up in net interest income, which grew only 1.3% QoQ (₹2,820 Cr vs ₹2,785 Cr) even as gross interest income grew 7.4% QoQ — cost of funds is rising faster than yields, consistent with the deposit-competition and NIM-pressure risks our pre-result preview flagged. Loan growth, by contrast, ran well ahead of management's own guidance: advances rose 23.7% YoY to ₹3.10 lakh Cr (matching the Bank's own provisional 23.8% update) against a guided 15–17% FY27 range, and deposits grew 19.5% YoY to ₹3.54 lakh Cr. Annualised ROA held at 0.9%, up from 0.6% a year ago and tracking toward management's stated FY27 aspiration of 1% ROA, though not yet there. Asset quality improved on both counts — gross NPA eased to 1.2% from 1.3% QoQ (1.6% YoY), net NPA held steady at 0.2% — while capital adequacy (Basel III) slipped to 14.6% from 15.2% QoQ. No management press release was available in our records for this filing, so there is no fresh commentary from the Bank to cross-check against the print beyond the figures themselves. The dominant development this quarter sits outside the P&L: the Hon'ble Supreme Court, in a judgment dated October 15, 2026 — two days before this result — dismissed the Bank's appeal and upheld the Bombay High Court's 2023 ruling that the Bank's March 2020 write-down of ₹8,415 Cr of Additional Tier-1 bonds was invalid. The Bank states it is still evaluating the legal, accounting and timing implications and has NOT recognized any impact in these results. For transparency it discloses proforma numbers: had the reversal been booked, consolidated net profit for the quarter would have been a loss of roughly ₹5,213 Cr (₹4,141 Cr for the half year) instead of the reported ₹1,084 Cr profit, with annualised ROA swinging to roughly -4.3%. This is a live, unresolved contingency of a scale that dwarfs the quarter's reported earnings and will be the key item to track into Q3. Separately, the Bank's ESG rating improved to 79 (Oct 16) and it disclosed a pending ₹363 Cr tax refund (Sep 30) — both minor relative to the AT1 overhang. Against the Street, coverage going into the print was split — Nomura Neutral with a ₹23 target citing positives already priced in, while Citi, Investec, Morgan Stanley and JPMorgan were Sell/Underweight on valuation and structural margin concerns (Bloomberg consensus target ₹21.10). The operating print itself — strong YoY profit and loan growth, improving asset quality — broadly supports the bulls' case on execution, but does nothing to resolve the AT1 legal overhang that was the bears' core worry, and the sequential NIM pressure is visible exactly where the skeptics said to look.

Yes Bank has been assigned an Environmental, Social, and Governance (ESG) Rating of '79' by NSE Sustainability Ratings & Analytics Ltd for FY 2025-26. This represents an improvement from the previous year's rating of '77'. The rating was based on the bank's FY 2025-26 disclosures and publicly available data. Yes Bank has not engaged NSE Sustainability for this rating, indicating an independent assessment by the ESG Rating Provider. The bank has hosted the information on its website as per SEBI regulations.

Yes Bank Ltd announced that the Hon'ble Supreme Court of India has upheld the Bombay High Court's judgment dated January 20, 2023, dismissing appeals filed by the Bank, RBI, and Union of India. The Supreme Court's decision relates to the write-down of Additional Tier-1 (AT1) Bonds aggregating to ₹8,415 crore, which occurred in March 2020 during the bank's reconstruction. The court ruled that the appeals challenging the setting aside of the AT1 Bonds write-down are dismissed, and interim orders are vacated. The payment of annual coupon rates will remain unaffected as per the Information Memoranda. The bank is currently reviewing the judgment and its implications, including a pro-forma impact on its CET1 Ratio, which is expected to decrease by approximately 250 basis points as of June 30, 2026, while the Tier1 Ratio is expected to remain unimpacted at 14.0%. Yes Bank respects the judgment and is evaluating all available legal options.