Yes Bank continued to deliver a healthy performance on all major operational parameters in 1QFY19. Its net profit grew by 30.5% YoY and 37.9% QoQ to Rs12.6bn led by 46.9% YoY and 34.7% QoQ growth in other income on the back of strong growth in fee-based income from Corporate and Transaction banking. However, NII grew by 22.7% YoY and 35.3% QoQ to Rs22.2bn marginally below our estimates owing to 30bps QoQ decline in NIMs to 3.3% partially led by sharp growth in loan book and relatively higher reversal of income on fresh slippages. Loan book grew by 53.4% YoY and 5.5% QoQ owing to strong growth in Corporate, IBU, Retail and MSME segments. CASA ratio also declined marginally to 35.1% in Jun'18 vs. 36.5% in Mar'18 and...