Cement firm drills Rs 350-cr hole in IndusInd, YES Bank profits
Posted on 20th April 2017 |
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Exposure to a single cement company made a Rs 350-crore dent in the net profits of IndusInd Bank and YES Bank, private lenders otherwise known to have better control on asset quality. IndusInd Bank and YES Bank had to make provisions of Rs 122 crore and Rs 228 crore, respectively, for their exposure to this account, in compliance with a Reserve Bank notification. |
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Yes Bank shares rated ‘Buy’; MOSL pegs target price at Rs 2,110
Posted on 13th April 2017 |
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The recent capital raise of `49 billion (30% of December 2016 net worth) has added ~300bp to Yes Bank’s (YES) CET1 ratio (~13%). With an incremental market share of 3.5%+, aggressive roll-out of retail/SME products and strong corporate relationships,YES is expected to register loan CAGR (FY17-20) of 28% – at least 2x of system loan growth. YES has increased its branch strength at a 32% CAGR and SA deposits at a 90% CAGR over FY11-16. |
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RBL Bank, YES Bank, Lakshmi Vilas Bank hit record high
Posted on 10th April 2017 |
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Shares of three private sector banks – YES Bank, RBL Bank and Lakshmi Vilas Bank – have hit their respective record highs, gaining up to 7.5% on BSE in intra-day trade on Monday. Thus far in the calendar year 2017, RBL Bank (up 79%), YES Bank (38%) and Lakshmi Vilas Bank (23%) have outperformed the market by gaining more than 20%. In comparison, the S&P BSE Sensex was up 11.5% during the period. |
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YES Bank's Gift City unit touches $1 bn in transactions
Posted on 4th April 2017 |
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One of the early movers into the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City), YES Bank Limited has done business worth over $1 billion through its International Business Unit (IBU) by the end of financial year 2016-17. "Just in one and half years after being operational, we have done business of $1 billion in our IBU at the Gift City. We had revised our targets in October last year as the bank has received tremendous response from our customers in India and abroad," said Manish Vora, chief executive officer of the GIFT IFSC Banking Unit of YES Bank. |
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YES Bank's Rs 4,900-crore capital increase strengthens its buffer: Moody's
Posted on 3rd April 2017 |
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Global credit rating agency Moody's Investors Service on Monday said Yes Bank raising around Rs 4,900 crore last week strengthens its capitalisation and loss-absorbing buffer as well as supports credit growth. "The capital increase is credit positive because it strengthens the bank's capitalisation and loss-absorbing buffers and supports the bank's credit growth," Moody's said. |
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Yes Bank share offering succeeds, second time around
Posted on 30th March 2017 |
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Mumbai: Yes Bank Ltd has succeeded on its second attempt to raise capital, as friendlier conditions in financial markets allowed the Indian lender to put last year’s failed share offering behind it. The Mumbai-based bank, led by billionaire chief executive officer Rana Kapoor, raised about $750 million through the sale of new shares at Rs1,500 each, an exchange filing late Wednesday showed. The decision to reduce the size of the sale helped smooth the deal, six months after Kapoor blamed a misunderstanding by his bankers for the failure of a $1 billion offering. |
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YES Bank nears record high on QIP plans
Posted on 24th March 2017 |
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YES Bank was up nearly 2% at Rs 1,544.75 on the National Stock Exchange (NSE), after the private sector lender announced that its qualified institutional placement (QIP) offer has opened on Thursday. The stock is trading close to its record high of Rs 1,545.45 touched on March 16, 2017. The floor price, as per the formula of capital market regulator Securities Exchange Board of India (SEBI) has been fixed at Rs 1,498.95 per share. “The bank may at its discretion offer a discount of 5% on the floor price of QIP,” YES Bank said in the filing. |
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YES Bank’s scholarship programme gets enthusiastic response
Posted on 17th March 2017 |
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YES Bank has come up with an initiative, Yes Aspire to Innovate, a scholarship programme which recognises and rewards 30 exceptional scholars for their entrepreneurial vision, leadership qualities and holistic academic performance. The Express Group is the media partner for the programme. The programme offers a scholarship of Rs 2 lakh, a pre-placement interview opportunity and a year-long mentorship by the YES Bank senior leadership to each of the 30 scholars chosen from 15 select B-schools across the country. |
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HDFC Bank, ICICI Bank, to YES Bank, higher provisioning eats into 16 private banks’ Q3 profit
Posted on 18th February 2017 |
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The aggregate net profit of 16 private sector lenders for the December quarter fell 8.7% year-on-year (y-o-y) to R9,605.4 crore owing to higher provisions for non-performing assets, Capitaline data showed. According to the data, provisions of private banks in Q3 rose 71% y-o-y to R9,474 crore. For instance, Axis Bank reported a 73% y-o-y fall in its December quarter net profit to R579.57 crore as its provisions rose more than five times over the same period last year. The bank’s gross non-performing assets (NPAs) for the quarter jumped 105 basis points (bps) sequentially to 5.22% of total advances. The bank’s watch list reduced 20% over the previous quarter and stood at R11,091 crore, leading to a rise in bad loans. |
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IndusInd Bank, YES Bank hits record high
Posted on 13th February 2017 |
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Shares of private sector banks were trading firm in otherwise range-bound market with IndusInd Bank and YES Bank hitting their respective record highs on the National Stock Exchange (NSE). YES Bank, Kotak Mahindra Bank, IndusInd Bank, IDFC Bank and HDFC Bank were trading higher by up to 3% as compared 0.17% rise in the Nifty 50 index. At 03:11 pm; Nifty Private Bank index was up 0.75% against 3% decline in the Nifty PSU Bank index. |
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