Mumbai, November 14, 2026 (Yes Punjab News)
YES Bank has rejected a media report alleging a cyber fraud loss of around Rs 32 crore involving government accounts, asserting that neither its systems were compromised nor any financial loss suffered in the alleged incident.
In a statement issued on Friday, November 13, the private sector lender said no government accounts had been affected and described the claims as factually incorrect and inconsistent with the actual position.
The clarification followed a report published by The Banker, a Financial Times Group publication, on November 13 under the headline ‘India on high alert after alleged $3.4mn cyber loss at Yes Bank’. The report alleged that the bank had suffered losses of approximately Rs 32 crore in a cyber fraud involving government accounts towards the end of October 2026.
YES Bank said it had taken up the matter with the publication, highlighted what it described as factual inaccuracies and sought a retraction. It also warned that the circulation of incorrect information could damage its reputation and create unnecessary concerns among stakeholders.
The clarification comes after the bank reported a strong financial performance for the September quarter. Its net profit rose 65 per cent year-on-year to Rs 1,080 crore, while net interest income increased 22.7 per cent to Rs 2,822.5 crore from Rs 2,301 crore in the corresponding quarter last year.
Net interest margin improved to 2.6 per cent from 2.5 per cent a year earlier, although it was below the 2.7 per cent recorded in the June quarter. Other income rose to Rs 1,881.5 crore, while provisions declined to Rs 317.4 crore from Rs 395 crore in the preceding quarter.
The bank reported stable asset quality, with gross non-performing assets at 1.2 per cent and net NPAs at 0.2 per cent. Gross slippages declined to Rs 1,035 crore from Rs 1,248 crore in the year-ago quarter, while recoveries and upgrades stood at Rs 954 crore.
Managing Director and CEO Vinay M. Tonse attributed the performance to growth in core operating income and improved asset quality.
YES Bank shares closed 1.5 per cent lower at Rs 17.42 on Friday. The stock has declined around 19 per cent so far in 2026 and nearly 23 per cent over the past 12 months.
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