YES Bank denies ₹32 crore cyber fraud report, says no government accounts affected

Resumen detallado

The clarification follows a report published by The Banker, a Financial Times Group publication, on November 13, titled ‘India on high alert after alleged $3.4mn cyber loss at Yes…

YES Bank on Friday, November 13, denied a report alleging that it had suffered a cyber fraud loss of approximately ₹32 crore (around $3.4 million) involving government accounts, stating that its systems had not been compromised and no financial loss had been incurred.

The clarification follows a report published by The Banker, a Financial Times Group publication, on November 13, titled ‘India on high alert after alleged $3.4mn cyber loss at Yes Bank’. The report alleged that the bank had suffered the loss in a cyber fraud incident involving government accounts towards the end of October 2026.

In a statement, YES Bank said no government accounts had been affected, and there had been no financial loss linked to the alleged incident. It termed the claims in the report factually incorrect and said they did not reflect the actual position.

The bank said it had taken up the matter with the publication, pointed out the factual inaccuracies and sought a retraction. It added that the publication of incorrect information could harm the bank's reputation and create unwarranted concerns among stakeholders.

Last month, YES Bank reported a 65% year-on-year increase in net profit to ₹1,080 crore for the September quarter, while net interest income (NII), or core income, rose 22.7% to ₹2,822.5 crore from ₹2,301 crore in the year-ago period.

Net interest margin (NIM) improved to 2.6% from 2.5% a year earlier, although it was lower than 2.7% in the June quarter. Other income increased to ₹1,881.5 crore from ₹1,644.3 crore, while provisions declined to ₹317.4 crore from ₹395 crore in the preceding quarter.

Asset quality remained stable, with gross non-performing assets (NPAs) at 1.2% and net NPAs at 0.2%. Gross slippages stood at ₹1,035 crore, compared with ₹1,248 crore in the year-ago quarter, while recoveries and upgrades amounted to ₹954 crore.

Managing Director and CEO Vinay M Tonse said the bank's performance was supported by growth in core operating income and an improvement in asset…

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