Reinitiate ‘buy’ on Yes Bank with TP of Rs 464
Posted on 7th April 2018 |
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Yes Bank offers an excellent opportunity to play the theme of structural improvement in profitability vs peers. Not only is the growth opportunity fairly abundant given Yes Bank’s smaller but growing balance sheet, even the retail opportunity on both sides of the balance sheet is likely to drive a 20bps improvement in RoA to 1.9% and 500bps increase in RoE to 23% over the next two years. In contrast, its stock valuations remain muted at 2.4x P/ABV and 13x P/E – this despite a solid stock return of 24% CAGR over the longer term (11 years) and even in the shorter term – 23% CAGR over three years – similar to HDFC Bank’s performance. |
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Yes Bank likely to see long term trends remain intact
Posted on 27th March 2018 |
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The recent under performance in Yes Bank’s (YES) stock has been triggered by concerns of worsening asset quality amid tightening regulations. We believe YES has robust resolution processes and will be able to recover the bulk of its stressed assets. The strong corporate loan growth, while opportunistic, is driven with a specific strategy in mind. In time, focus on growing granular assets would regain importance as the current opportunity subsides. |
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Yes Bank sells 2.17% stake in Fortis Healthcare
Posted on 16th March 2018 |
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Private sector lender Yes Bank has sold 2.17 per cent stake in Fortis Healthcare, out of over 17 per cent stake it acquired last month. In a regulatory filing, Yes Bank said it had sold 1.12 crore shares representing 2.17 per cent stake of Fortis Healthcare in the open market between February 23 and March 15, 2018. Yes Bank had acquired 17.31 per cent stake in Fortis Healthcare following invocation of nearly 9 crore pledged shares last month. |
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Yes Bank acquires over 17% stake in Fortis Healthcare, becomes largest shareholder
Posted on 14th March 2018 |
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Yes Bank Ltd on Tuesday acquired more than 17 percent stake in Fortis Healthcare Ltd post invocation of pledge on the equity shares subsequent to default by the promoters group companies. 89,781,906 equity shares were acquired i.e. 17.31 percent of the paid up share capital of Fortis Healthcare Ltd, having nominal value of Rs 10 per share, Yes Bank said in a regulatory filing to exchanges. |
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Yes Bank to raise Rs 3,000 crore from debentures
Posted on 21st February 2018 |
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CHENNAI: Yes Bank has told the BSE that it has received necessary board approval for raising debt to the tune of Rs 3,000 crore. Yes Bank told the BSE on Wednesday that it would be raising Rs 3,000 crore via debentures -- that are rated, listed, non-convertible, redeemable, unsecured, basel III compliant tier-2 bonds -- after it got the go-ahead from its Capital Raising Committee. |
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Yes Bank to raise $600 million via fixed term notes
Posted on 2nd February 2018 |
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Private sector lender Yes Bank today said it will raise $600 million (approx Rs 3,830 crore) through issuance of fixed term notes under its $1 billion Medium Term Note (MTN) programme. “The Capital Raising Committee of the board..apporved the issuance and allotment of fixed term notes for an aggregate principal amount of $600 million under the $1 billion Medium Term Note Programme of the bank,” Yes Bank said in a BSE filing. |
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Yes Bank prices dollar bonds at 130 bps over 5-year US Treasury yield
Posted on 30th January 2018 |
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Yes Bank on Monday priced its five-year dollar bonds at 130 basis points over the five-year US Treasury yield, sources aware of the deal confirmed to FE. The bank is believed to have raised $600 million through the issue, which is the first foreign currency bond offering by the lender. The initial price guidance on the bonds was 150 basis points over the Treasury yield, according to sources. This means the spread narrowed by 20 basis points, which is considered a significant compression for a debut issuer, a banker said. |
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YES Bank's Q3 results due today; Here’s what to expect
Posted on 18th January 2018 |
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Private lender YES Bank is slated to unveil its earnings numbers for the December quarter on Thursday. Analysts see an over 20 per cent year-on-year growth in the bank's bottom line with robust asset quality. |
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Yes Bank sets up Medium Term Note programme to raise $1 billion
Posted on 23rd December 2017 |
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Private sector lender Yes Bank today said it has established a Medium Term Note programme to raise $1 billion (over 6,400 crore) by issuing debt securities on private placement basis. “…The Bank has, on December 22, 2017, established a Medium Term Note programme for an amount of $1 billion, in order to enable the bank to issue debt instruments in the international capital markets, to eligible investors, from time to time, in one or more tranches and/or series,” Yes Bank said in a regulatory filing. |
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Yes Bank, EIB to co-finance $400 mn for clean power projects
Posted on 19th December 2017 |
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Yes Bank and the European Investment Bank will co-finance $400 million funding for renewable power generation in the country. "The new financing programme will streamline financing for a range of renewable energy projects being built and operated by leading Indian corporations and private sector developers," Yes Bank and EIB said in a joint statement issued here today. |
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