Yes Banks (YES) Q2FY18 PAT at Rs 10 bn (up 25% YoY) was in line, but the sharp deterioration in asset quality ruined the show. Slippages rose to ~ Rs 20 bn, as accounts worth Rs 12.2 bn were recognized as NPA on divergence with RBI's inspection, driving GNPA ratio higher to 1.8% vs. 1% in Q1.