INSUBCONTINENT EXCLUSIVE:
It's a thumbs-up to YES Bank from global brokerages, including Jefferies and Citi, as the private lender posted a 29 per cent rise in
March quarter net profit.
The bottom line at Rs 1,179 crore rode on high loan growth and a decline in dud loans, which boosted its core
interest income.
Stock of the mid-sized private lender was up 2.77 per cent at Rs 361.80 early on Friday compared with benchmark BSE
Rs 440, from Rs 415 earlier
the target price to Rs 425, from Rs 400 earlier
Macquarie is positive about the lender
It also revised target to Rs 425 from Rs 410 earlier
Credit Suisse too raised the 12-month target price of YES Bank to Rs 395, from Rs 363 previously
Rs 2,627 crore, down from 1.52 per cent a year ago and 1.72 per cent in the quarter to December 2017
Total slippages into NPAs read Rs 380 crore.
NPAs were lower because the bank sold Rs 589 crore of such accounts during the quarter and
recovered Rs 55 crore of loans
The bank expects credit costs or cost of providing for NPAs as a percentage of the loan book to be in the 50-70 basis point range in
2018-19, down from 76 basis points in 2017-18
One basis point is 0.01 percentage point.
The company made Rs 399.60 crore worth of provisions for January-March, 29 per cent higher than Rs
309.70 crore it made in the year-ago quarter
