YES Bank - Q2FY21 Business Update - Angel Broking

Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

"Yes Bank has filled preliminary business updated for Q2FY21. Advance grew 15.7% QoQ and declined 35% YoY. The major concern for the last few months was deposit stability. Deposit declined 35% YoY, however, sequentially increased 15.7%, which indicates SBI capital infusion yielded confidence to deposit holder and abated deposit outflow. Yes Bank currently trades at 0.90x of trailing net worth. The investor would like to see the progress of the granular deposit base. Additionally, the fresh formation of bad loans due to low economic activity, would keep provision highs and return ratio compressed for a longer time. Overall banks would take a longer time to report decent RoE."

Shares of YES BANK LTD. was last trading in BSE at Rs.13.35 as compared to the previous close of Rs. 13.29. The total number of shares traded during the day was 10148245 in over 8374 trades.

The stock hit an intraday high of Rs. 13.61 and intraday low of 13.31. The net turnover during the day was Rs. 136330366.

Source : Equity Bulls

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