Yes Bank: Why it remains a no despite expected earnings traction

Business growth of Yes Bank and margin performance will take long to catch up with peers; costs will also remain elevated

Madhuchanda Dey
April 24, 2023 / 01:27 PM IST
Yes Bank: Why it remains a no despite expected earnings traction

Yes Bank reported yet another uninspiring quarter.

PRO Only Highlights
-  Quarterly performance largely backed by improved realisations
-  Medium-term triggers China plus and protectionist measures for tyre industry
-  Valuations not inexpensive; but improved medium-term outlook

Highlights Uninspiring numbers weighed down by provision Incremental credit cost to decline, thanks to recovery New NPA formation an area to watch out for Growth picking up but liability warrants focus Core earnings improvement key – NIM expansion and cost reduction critical ROA expansion unimpressive in the context of valuation Yes Bank (CMP: Rs 16.20, Market Cap: Rs 46,582 crore) has reported yet another uninspiring quarter. While core performance showed marginal improvement with a sequential uptick both in loan growth and interest margin, the reported PPOP...