YES Bank Ltd. share price target

Yes bank delivered healthy set of numbers for Q1FY2019, with PAT growth of 30.5% yoy. On the operating front, the bank reported 22.7% yoy growth in NII, however, the NIM sequentially softened by 10bps driven by higher funding cost and stable loan book yields. The bank managed to reduce its expenses and brought down the cost/income ratio f..

consumer banking (up by 104.5% yoy and 21% qoq). While medium corporate & micro & small corporates reported flat to negative growth on sequential basis. Going forward, management expects the credit to grow by 30% in FY19 vs. our expectation of 33%....

ICICI Securities Ltd | Retail Equity Research NII increase of 22.7% YoY to | 2219 crore was a bit below estimates. This was mainly due to 10 bps QoQ decline in margins to 3.3%. The margin decline was on account of a QoQ rise in CoF The credit book continues to be largely driven by the corporate portfolio (led by low yield international business unit that increased 214% YoY from 8.8%), rose 52.3% YoY and currently forms 67.6% of the total book. Retail loans more than doubled in the last one year...

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...

Yes Bank (YES), incorporated in 2004, is a private Indian bank. It is promoted by Mr. Rana Kapoor with financial support of Rabobank and Global investor - AIF Capital and Chrys Capital. Despite competition from well established private banks, it has been able to grow its balance sheet at steady pace. The bank's advances have grown at heal..

Bank has achieved various key milestones in FY18 and entered the large bank growth phase while crossing assets level of ` 3 lakh crore, advances level of ` 2 lakh crore as well as deposits base of ` 2 lakh crore and emerging as fourth largest privet sector bank . The International Banking Unit at GIFT city has continued to expand business, with total assets crossing US$ 2.5 billion within 3 years of operations. Well positioned to deliver on growth & earnings, Steady NIMs - Enhance profitability Advances grew by 53.9% y-o-y to ` 2,03,533.9 Crores in FY 2018 on the back of robust growth across Corporate (67.9% of advances, up by 54.1% y-o-y), MSME and Retail businesses segments . Core retail banking advances doubled in FY2018, while gained share to 12.2% of total Advances from 9.4%. MSME loan book also surged 34.4% end March 2018 over March 2017. Going forward,...

Slippages have eased to 0.8% (Rs3.8bn) as against 1.2% last quarter. Also supported by higher recoveries/up-gradation, GNPA eased by 44bps sequentially to 1.3%. Credit cost for the quarter dropped further to 13bps. Management has guided robust credit cost guidance for FY19 to be within 50-70bps. Healthy loans/deposits growth of 54%/41% respectively with higher growth (98%) in retail segment. Management has guided credit growth of 30% for FY19. Healthy CASA of 36.5% and management targeting it at 40% for FY19. Driven by strong credit growth and contained credit cost, NII has grown by 31% (6%...

Yes Bank Ltd.'s Q4 beats estimates, asset quality improved. Yes bank has continued to report strong 29%, on yoy basis, surge in the net profit to Rs 1179.44 crore for the quarter ended March 2018 (Q4FY2018). The strong growth in net interest income and core fee income, along with an improvement in cost-to-income ratio supported the earnings performance of the bank in Q4FY2018. Net Interest Margin (NIM) stood at 3.4% in Q4FY2018, while bank has reduced cost-to-income ratio to 40.3% in Q4FY2018. On business front, the bank has sharply accelerated loan growth to robust level of 54% at end March 2018. Bank has maintained strong Current Account-Saving Account (CASA) deposits...

The bank reported fairly formidable performance led by phenomenal loan growth and strong asset quality. Margins were down sequentially but the same is consequent to high capital consumption and de-risking of the book. Sequential growth in Savings accounts was a bit modest nevertheless we assess it to improve. With the bank's CET ratio now at 9.7% we estimate a book accretive capital raise towards FY19E end.

The credit book was largely driven by corporate portfolio, which rose 54.1% YoY. Core retail advances doubled YoY and is now at 12.2% of loans, coupled with healthy growth of 34.4% in MSME Operating profit grew 26.3% YoY to | 2135 crore while lower provisions QoQ enabled PAT growth of 29% YoY to | 1179 crore Asset quality improved in Q4FY18. Absolute GNPA fell by | 348 crore QoQ to | 2627 crore. The GNPA ratio improved to 1.28% vs. 1.72% QoQ. Slippages were lower at | 380 crore vs. | 495 crore seen in...