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Last Updated : Oct 27, 2020 10:15 AM IST | Source: Moneycontrol.com

Yes Bank share price falls 2% despite CEO Prashant Kumar's optimism

Yes Bank The share touched its 52-week high Rs 87.95 and 52-week low Rs 5.55 on 18 March, 2020 and 06 March, 2020, respectively.

 
 
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Share price of private lender Yes Bank shed over 2 percent intraday on October 27. Prashant Kumar, MD and CEO of Yes Bank yesterday said that the second half of this fiscal would be much better for the bank.

Speaking to CNBC-TV18, Kumar said, "If we don’t have any negative surprise from the pandemic, our second half would be much better. He added that the bank was seeing better demand from the market in terms of credit.

The bank has been able to bring in a large number of new customers, Kumar said. "We have opened almost 60,000 new accounts on the current account/savings account (CASA) side during September and we are targeting to take it to 1 lakh new customers adding to the bank every month and we are going to achieve this by December or January," he said.

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Speaking about repayment of loans, Kumar said 5.5 percent of loans amounting up to Rs 9,000 crore are yet to make repayment. “We have disclosed the entire overdue book, which is overdue for more than 30 days. That is something around Rs 9,000 crore which is 5.5 percent of our loan book,” he said.

The private sector lender had reported profit at Rs 129.4 crore for September ended quarter 2020, against loss of Rs 600 crore in year-ago period. In the quarter ended June 2020, it had reported Rs 45.44 crore profit under the new management lead by Prashant Kumar, MD & CEO of the bank.

But net interest income declined 9.7 percent to Rs 1,973.4 crore, from Rs 2,186 crore in corresponding period last fiscal. NII in June quarter was at Rs 1,908 crore.

At 09:57 hrs Yes Bank was quoting at Rs 12.85, down Rs 0.30, or 2.28 percent on the BSE.

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The share touched its 52-week high Rs 87.95 and 52-week low Rs 5.55 on 18 March, 2020 and 06 March, 2020, respectively.

Currently, it is trading 85.33 percent below its 52-week high and 132.43 percent above its 52-week low.
First Published on Oct 27, 2020 10:15 am
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