Yes Bank Q1: On the right track, but the road to recovery too long
Valuation of Yes Bank is not cheap for an entity with uncertain growth outlook and one which would require more capital
July 26, 2021 / 08:59 AM IST
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
Yes Bank (CMP: Rs 13, Market Cap: Rs 33,696 crore) has reported a profit in the first quarter of FY22 that came on the back of lower provision and higher restructuring. While the bank is making all the right moves in terms of steering the book towards granular retail and MSME as well as building a low-cost liability franchise, the burden of past toxic assets is not entirely over and Covid could throw up new areas of challenges. While...