ICICI Securities: Yes Bank - Turnaround Progressing Well; Asset Quality Pangs Merely Deferred
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ICICI Securities Report
It becomes tricky to assess Yes Bank Ltd., from a stock call perspective, especially during its consolidation/turnaround phase, post the reconstruction (and re-emergence) with solid backing from the country’s most trusted bank, State Bank of India.
Henceforth, it calls for evaluation and assessment quite differently and distinctly.
Q2 FY21 earnings call takeaways - Yes Bank reported profit after tax of Rs 1.29 billion (up 185% QoQ on a low base while it had reported a loss of Rs 6 billion in Q1 FY20).
Moving in positive direction despite reconstruction of bank plus impact of Covid-19 disruption – it is progressing very well since March 2020.
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