YES Bank Ltd. share price target

Outlook: YESBK reported strong results on most parameters buoyed by sharp advances growth and stable asset quality. We find encouraging...

Q: What is the impact the recent RBI guidelines on stressed assets impacting Yes Bank and the credit costs outlook thereof? For Yes Bank, the impact of the recent RBI guidelines on our Restructured Book as well as on exposures to entities with systemic exposures above INR1Bn is minimal and it doesn't alter the Bank's outlook on its credit / asset quality parameters. The Bank has been...

The board of Fortis Healthcare announced the sale of its hospital assets to the Manipal-TPG combined along with the sale of 20% stake in its diagnostics arm in a complexly structured deal, which prima facie values the Fortis Hospital stake at a significant discount. Post the announcement, the stock price of the FHL witnessed a correction. A section of minority...

material shocks coming on the asset quality side. We aren't much worried about the RBI RBS divergence amount as it is the only bank that recovered & resolved 90% of divergence amount within 6 months reflecting its holding superior quality of collaterals. We also draw comfort from...

Yes Bank's (YES) Q3FY18 PAT grew by 22% YoY at Rs 10.8 bn, which was in line with our estimate. Asset quality improved, as slippages were lower at Rs 4.9 bn which drove 10 bps QoQ decline in GNPA ratio to 1.7%.

Yes Bank Ltd.'s profit matched market estimates for the December ended quarter while asset quality improved marginally. Yes bank has maintained healthy earnings performance, while posting 22%, on yoy basis, increase in the net profit to Rs 1076.87 crore for the quarter ended December 2017 (Q3FY2018). Except decline in the Net Interest Margin (NIM), the bank has exhibited all round healthy performance across various performance indicators in Q3FY2018. The bank has posted strong 27% growth in net interest income, while non-interest income surged 40% in...

Yes Bank Ltd Q3FY18 results comment NII increased to Rs. 1888.8 Cr in Q3FY18 compared to Rs. 1885.09 Cr in Q2FY18.

The key highlight was the robust growth of 46.5% YoY in advances to | 171515 crore, led by 44.8% YoY increase in the corporate book NII increase at 25.3% YoY to | 1889 crore was lower-than-expected. Margins dipped 20 bps QoQ to 3.5%. This was on account of raising of high cost (~8.5% rate) perpetual & tier 2 bonds and also due to...

Slippages have eased significantly to 1.2% (Rs4.9bn) as against 5.5% last quarter. As a result GNPA improved by 10bps sequentially to 1.7%. Yet credit cost of 18bps helped in 310bps imrprovement in provision coverage to 46.4%. Healthy balance sheet growth with loans/deposits growing by 47%/30% respectively. CASA expands by 470bps YoY and 80bps QoQ to 38.0%. NIM deteriorated 20bps sequentially to 3.5% partly attributable to raising of perpetual debt as well as Tier II bonds during the quarter. Despite lower than expected NII and higher than estimated credit cost, PAT beats...

The bank delivered a healthy performance amidst some clatter around headline margins and asset quality numbers. While there was a hitch to asset quality with the bank selling Rs4.5bn in a standard account to ARC, we underscore that even including the same, the slippage ratio looks manageable.