 "YES Bank makes two senior management appointments; stock rises 5.5%")
Analysts have raised many concerns over YES Bank’s June quarter (Q1) results, published on Wednesday. For some, loan growth at a decade low of 10 per cent in Q1 and deposit growth at 6 per cent, were disappointing.
For the majority, though, the problem lay in the fact that asset quality remains far from comforting. Another quarter of ‘kitchen sinking’ took away close to Rs 1,784 crore from the bank’s operating profit pool, even as net profit at Rs 114 crore was better than the steep losses in the previous quarter. However, capital adequacy remains the larger concern.
For the majority, though, the problem lay in the fact that asset quality remains far from comforting. Another quarter of ‘kitchen sinking’ took away close to Rs 1,784 crore from the bank’s operating profit pool, even as net profit at Rs 114 crore was better than the steep losses in the previous quarter. However, capital adequacy remains the larger concern.
