The shares of India’s fifth largest Private Sector Bank gained 1.7 percent to Rs 17.50 a share on Wednesday after the company reported robust business growth in the second quarter of 2024.
At 12:05 p.m., Yes Bank Limited shares were trading at Rs 17.15 on the National Stock Exchange, down 0.30 percent from the previous close price. The company has a market capitalization of Rs 49,607 crore.
According to the company’s business update, Yes Bank deposits climbed by 17.2 percent year on year and 6.8 percent quarter on quarter to Rs 2.34 lakh crore, while loans and advances increased by 9.5 percent year on year and 5.2 percent quarter on quarter to Rs 2.10 lakh crore, as disclosed in a BSE filing dated October 3.
Yes Bank stock has given a return of 13 percent over the last six months and 6 percent in a year.
Yes Bank’s revenue has increased by 26 percent yearly, from Rs 5,134 crore in Q1FY23 to Rs 6,445 crore in Q1FY24. In the same time frame, the company’s net profit climbed by 10 percent, from Rs 314 crore to Rs 346 crore.
According to the recent shareholding pattern, Foreign institutional investors hold 23.79 percent, domestic institutional investors hold 37.94 percent stake and retail investors own 38.26 percent stake.
Yes Bank Ltd is engaged in providing a wide range of banking and financial services including working capital finance, specialized corporate finance, trade and transactional services, treasury risk management services, investment banking solutions, and many more.
Written by Omkar Chitnis
