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YES BANK LTD.

NSE : YESBANKBSE : 532648ISIN CODE : INE528G01027Industry : Bank - PrivateHouse : Yes Bank
BSE90.70-0.45 (-0.49 %)
PREV CLOSE ( ) 91.15
OPEN PRICE ( ) 89.40
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 90.40 (471)
VOLUME 10737444
TODAY'S LOW / HIGH ( )87.15 93.85
52 WK LOW / HIGH ( )81.75 404
NSE90.65-0.5 (-0.55 %)
PREV CLOSE( ) 91.15
OPEN PRICE ( ) 89.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 90.65 (67331)
VOLUME 164964349
TODAY'S LOW / HIGH( ) 87.10 93.90
52 WK LOW / HIGH ( )79.15 404
AnalystEmailIdketan.mehrotra@narnolia.com
AnalystNameKetan Mehrotra
BSECode532648
CP1DesignationMD & CEO
CP1NameMr.Ravneet Gill
CP2DesignationSr.Group President
CP2NameMr. Rajat Monga
CP3DesignationGroup President & CF
CP3NameMr.Raj Ahuja
CallDate17 Jul 2019
DescriptionManagement stated that the transitions of top management has been complete and looking to raise capital soon. Management highlighted that the capital which they are seeking to raise will entirely be used for growth. Capital raising will be done in 2Q FY20 and bank is seeing lots of interest from private as well as public institutions. Management believes to grow strongly from coming quarter. There were slippages of Rs 6232 Cr during the quarter. Net slippages were entirely from the accounts classified as BB & Below at end of Q4FY19. BB & below book exposure increased to 9.4% (Rs 29470 Cr) from earlier disclosed of 7.4% in 4Q FY19. There were net slippages of Rs 4500 Cr from this pool. Increase was led by rating downgrades of investment in companies of 2 financial services group. Management has taken MTM provisions of Rs 1109 Cr on the rating downgrade. However, management maintained the credit cost guidance of 125 bps in FY20. Credit cost in 1Q FY20 was 32 bps. Management also believe no further additions to the BB &Below book in near future. Management stated that BB & Below book is not very big granular book or concentrated sectoral exposure. There are handful of accounts and the resolutions will provide much upside to the profitability. Corporate SMA 2 is only Rs 404 Cr in 1Q FY20. Real estate exposure is around Rs 24000 Cr and out of this 25% is included in BB & Below book. Rest 75% has seen minimal slippages. CET ratio declined from 8.4% to 8% sequentially. New RBI regulation of rating impacted 20 bps and 16 bps was dragged by investment downgraded accounts. Average Yield on advance on corporate book would be around 9.75%-10% and on retail book between 10.50-10.75% and SME is the range of 10-10.5%. On Margin front management stated that core margins are between 3.2-3.3%, however the interest reversal on account of NPA recognition which are impacted the NIM. Management added that resolutions which management is looking at are expected to have positive impact on margins. Management stated that post the capital raise we will see higher intensity in the corporate fee.
SubjectQ1FY20 EARNING CONFERENCE CALL

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