Yes Bank reports better than expected quarterly results: Angel Broking

Views of Mr. Jaikishan J Parmar (Research Analyst, Angel Broking):

"At a time when there were question marks over the extent of NPAs in the books of private banks, Yes Bank reported 22% growth in net profits to Rs.1077 crore for the third quarter of the current fiscal. The net interest income (NII) was also up by 27% for the quarter at Rs.1888 crore. So how exactly did the business of Yes Bank grow during the quarter.

Advances overall grew by 46.5% but within the ambit of advances, retail advances grew by 101%, indicating a clear shift in the bank's portfolio towards retail assets. The deposits grew by 29.5% during the quarter but the net interest margin (NIM) at 3.50% was 20 basis points lower than the NIM in the corresponding quarter last year.

In percentage terms the gross NPAs improved from 1.82% to 1.72% this quarter even as the net NPAs improved from 1.04% to 0.93%. However, in absolute terms both gross NPAs and net NPAs were higher. During the quarter, Yes Bank had gross slippages of Rs.495 crore. This included a slippage of Rs.254 crore on accounts that were previous classified as SDR, 5:24 and NCLT. Yes Bank had exposure to 9 NCLT accounts with a total rupee exposure of Rs.1342 crore."

Shares of YES BANK LTD. was last trading in BSE at Rs.362.45 as compared to the previous close of Rs. 364.8. The total number of shares traded during the day was 892824 in over 6784 trades.

The stock hit an intraday high of Rs. 365 and intraday low of 356.5. The net turnover during the day was Rs. 321555323.

Source : Equity Bulls

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