Shares of YES Bank
have moved higher by 9% to Rs 353 per share on the BSE
in noon deal trade after the private sector lender’s asset quality improved in March quarter (Q4FY18) sequentially.
The bank’s Gross non-performing asset (NPA) fell to 1.28% in Q4FY18
from 1.72% per cent in the December 2017 quarter. Net NPA
improved to 0.64% from 0.93% previous quarter.
reported a better than expected net profit growth of 29% year on year (YoY) at Rs 11.79 billion, on back of healthy growth in net interest income (NII).
The NII during the quarter under review was up 31.4% at Rs 21.54 billion as compared to the previous year quarter.
Analysts at an average had expected profit of Rs 10.32 billion and NII of Rs 23.6 billion for the quarter.
said it has nil slippage during the quarter from restructured book on account of Feb 12, 2018 RBI circular. The bank has no impact on the outstanding restructured book (0.16% of gross advances) as on March 31, 2018 as schemes of restructuring have been fully implemented.
The Bank has further proactively reviewed its portfolio for borrowers with aggregate debt of Rs 10 – 20 billion & Rs 1 – 10 billion in FY18, and expects a minimal impact for any accounts being potentially referred to NCLT, it added.
At 03:13 pm; the stock was trading 8% higher at Rs 353 on the BSE, as compared to 0.64% rise in the S&P BSE
Sensex. The trading volumes on the counter more than doubled with a combined 56.16 million shares changed hands on the BSE
The stock is trading close to its 52-week high of Rs 383 touched on September 21, 2017 on the BSE
in intra-day trade.