YES Bank is trading higher by 5% to Rs 463 on the NSE, in an otherwise subdued market, after reporting a healthy 18.8% year on year (yoy) growth in net profit at Rs 430 crore for the fourth quarter ended March 31, 2014 (Q4), aided by higher growth in loan book and net interest income (NII). The private sector lender had profit of Rs 362 crore in the year-ago quarter.
The bank’s NII, or the difference between interest income and interest expenditure, was Rs 719 crore, up 12.8% compared to the year-ago period. The bank’s net interest margin (NIM) improved 10 basis points sequentially to 3%; on an annual basis, it remained unchanged.
On the asset quality front, the bank's absolute gross and net non-performing assets (NPAs) decreased by 10.7% and 38.4% respectively q-o-q on an already low base.
The gross and net NPA ratios for the bank remain well under control and among the best in the industry at 0.3% and 0.05%, respectively, Angel Broking said in a client note.
Analysts have put a Buy rating on the stock with a target price of Rs 514.
The stock opened at Rs 444 and has seen a combined 6.44 million shares changing hands on the counter till early noon deals on the NSE and BSE.
The bank’s NII, or the difference between interest income and interest expenditure, was Rs 719 crore, up 12.8% compared to the year-ago period. The bank’s net interest margin (NIM) improved 10 basis points sequentially to 3%; on an annual basis, it remained unchanged.
On the asset quality front, the bank's absolute gross and net non-performing assets (NPAs) decreased by 10.7% and 38.4% respectively q-o-q on an already low base.
The gross and net NPA ratios for the bank remain well under control and among the best in the industry at 0.3% and 0.05%, respectively, Angel Broking said in a client note.
Analysts have put a Buy rating on the stock with a target price of Rs 514.
The stock opened at Rs 444 and has seen a combined 6.44 million shares changing hands on the counter till early noon deals on the NSE and BSE.
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