Yes Bank Updates

  • Blog|
  • 2 Min Read
  • By Taxmann
  • |
  • Last Updated on 9 April, 2021
YES BANK has recently released an update regarding a lot of facts. Let us see what they are. 

Succession planning:

The bank has prepared itself well for the succession of the MDs and the CEOs. Keeping in mind, the details from the board of directors meeting held on September 25th, 2018; two external experts will be finalized by October 7th, 2018 for the search and selection committee. 

The search and selection committee in turn is going to be assisted by the global leadership advisory firm. They will be responsible for the evaluation of external and internal candidates and they also need to make recommendations to the board of directors as well. This list in turn will be submitted to the RBI.

The Executive Directors:

As per the meeting by the board of directors dated September 25th, 2018; two senior leaders of the bank would be appointed as the executive directors. The bank would submit the application to RBI to seek approval. 

The Number Game

The market is saying “YES” too! Coming to some of the financial statistics, here is what YES BANK had to say.  As on September 30th 2018, they have a satisfactory financial position based on unedited reports Q2FY19 The deposits grew by 41.0% YoY and they aggregated at 2.23 lakh crores as on September 30th, 2018.

The CASA ratio stands at 33.8% and this is a great of 28.2% YoY. So, surely good days ahead. The loan and finances have seen a growth by 61.5% YoY and aggregated to 2.40 lakh crores as on September 30th, 2018. Out of this, the domestic advances have aggregated to 2.2 lakh crores which is a growth of 5.6% YoY. The gross NPA stands at 1.35% of the gross advances as of September 30th, 2018. So, good days for investors too! As per the spokesperson, Mr. Rajat Monga, it’s time for accumulating Yes Bank shares. This information has been released before the official announcement of the financial results came through. This is why it is subject to approval by auditor committee of the board along with the board of directors and would be reviewed by the statutory auditors of the bank as well.
Further as per the market speculation pertaining to the asset quality of the bank, the management has come to the forefront and clarified that the asset quality is surely stable and the credit cost guidance is at 50-70 bps for the FY19.
Further, the bank currently has a liquidity coverage ratio of 101% as of September 30th, 2018 which means that it is 11 points in excess of the minimum requirement of 90%. Further, the average daily LCR for the Q2 FY19 turns to be 100%. The recent RBI measures of easing the static liquidity should further benefit the liquidity position of YES BANK. 
The analysts’ conference call for YES BANK has been scheduled on October 1st, 2018 at 4:00 PM IST and those who would like to hear the details can access site at 10 PM at the following link .

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