INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of private sector lender YES Bank climbed 2 per cent in early trade on Wednesday after bank partnered with Government of
Maharashtra to onboard PDS shops onto electronic PDS initiative through which they can become agents of bank
Under partnership, YES Bank will empower more than 20,000 ration shops which can offer last mile basic banking services to more than seven
The bank will cover almost 40 per cent of all PDS shops across locations like Palghar, Thane, Kolhapur, Latur, Pune and others, an ET report
suggested.
With Wednesday's gains, stock broke its losing streak of last four consecutive sessions.
Around 9:55 am, scrip was 1.80 per
cent up at Rs 195.55 on BSE
The bank is set to announce its December quarter numbers on Thursday
Brokerage Kotak Institutional Equities expects continued pressure on net interest margin (NIM) of bank
The loan growth of bank may decelerate to nearly 30 per cent from nearly 60 per cent as bank is in a stage of transition, brokerage said
The key monitorable would be funding profile and progress in deposits mobilization.
