The shares of one of India’s leading Private Sector banks gained 7 percent to Rs 22.99 a piece on Monday after the company received Rs 150 crore from the sale of the NPA portfolio.
At 11:22 a.m., Yes Bank Limited shares were trading at Rs 22.60 per share, up 5.36 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of Rs 64,799 crore.
According to the exchange filing, On the Sale of the NPA Portfolio to JC Flowers ARC on December 17, 2022. The Yes bank has received Rs 150 crores from a single trust in the Security Receipts Portfolio.
Yes Bank shares have delivered a return of 38 percent over the last six months and 5 percent in a year.
The bank’s Net Interest Income reported ar Rs 1,925 Crs for Q2FY24 down 3.3% Y-o-Y, while the Net Interest Margin was reported at 2.3 percent for Q2FY24 from 2.6 percent from the corresponding quarter of the last year.
Yes Bank’s revenue has increased by 22 percent yearly, from Rs 5,475 crore in Q2FY23 to Rs 6,714 crore in Q2FY24. In the same time frame, the company’s net profit climbed by 43 percent, from Rs 160 crore to Rs 229 crore.
Yes Bank Ltd is a full-service commercial bank providing a complete range of products, services, and technology-driven digital offerings, catering to retail, MSME as well as corporate clients.
The bank’s Non-performing assets have decreased to 0.83 percent from 4.53 percent in FY 2022.
The bank has its presence across pan-India with over 1,198 branches, 179 BC banking outlets and 1,345 ATMs, CRM’s & BNA’s.
The company has diversified retail loan books, with 18 percent from home loans, followed by 16 percent from personal loans,16 percent from Secured Business Loans, and 11 percent from Commercial Vehicle Loans.
Yes Bank operates its Investment banking, merchant banking, and brokerage business and it has a pan-India presence including an IBU at GIFT City and a Representative Office in Abu Dhabi.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
