YES Bank Refutes ₹32 Crore Cyber Fraud Allegations, Confirms No Government Accounts Were Affected

YES Bank has rejected reports of an alleged ₹32 crore cyber fraud involving government accounts. The private sector lender clarified on Friday that its banking systems remained secure. It also confirmed that no government accounts were compromised and no financial losses had occurred.

The clarification came after The Banker, a publication of the Financial Times Group, reported an alleged cyber fraud incident at YES Bank. The report, published on 13 November, claimed that the lender had suffered losses of approximately $3.4 million towards the end of October 2026.

YES Bank Rejects Cyber Fraud Claims And Seeks Retraction

The bank dismissed the allegations and mentioned that the report contained inaccurate information. The lender stated that its systems had not been breached and no government accounts were affected.

Further, Yes Bank confirmed that it had not incurred any financial losses related to the alleged incident.

Following the publication, YES Bank contacted The Banker to highlight the inaccuracies. It also requested that the publication withdraw the report.

YES Bank shares ended Friday's trading session at ₹17.42, narking a down of 1.5%. The stock has lost approximately 19% since the beginning of 2026. Over the past 12 months, it has declined by 23%.

How Did YES Bank Perform In Q2 FY27?

The bank reported a 65% year-on-year increase in net profit for Q2 FY27. Its net interest income (NII) rose 22.7% to ₹2,822.5 crore, compared with ₹2,301 crore in the corresponding quarter last year.

The bank's net interest margin (NIM) increased to 2.6% from 2.5% a year earlier. However, it declined from 2.7% in the June 2026 quarter.

Other income climbed to ₹1,881.5 crore from ₹1,644.3 crore in the year-ago period. Meanwhile, provisions fell to ₹317.4 crore from ₹395 crore in the preceding quarter.

The lender's asset quality remained steady during the quarter. Gross non-performing assets (NPAs) stood at 1.2%, while net NPAs were 0.2%.

Gross slippages declined to ₹1,035 crore from ₹1,248 crore in the same quarter last year. Recoveries and upgrades during the period totalled ₹954 crore.

YES Bank Managing Director and CEO Vinay M. Tonse attributed the quarterly performance to higher core operating income and better asset quality.

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