Net-interest income of YES Bank is expected to decrease by 1 percent Q-o-Q (up 24.5 percent Y-o-Y) to Rs 652.4 crore, according to Motilal Oswal.
Motilal Oswal's Report on YES Bank:
Loan and deposit growth is expected to be above industry average at 20 percent Y-o-Y and 30 percent+ Y-o-Y respectively.
While higher dependence on bulk deposits is expected to increase the cost of funds, increase in base rate by 25bp would provide a cushion and help the bank maintain NIM at 2.9 percent.
Some MTM is expected on corporate bond portfolio (in provisions line). However, gains from swap (in non-interest income line) that
the bank entered into, is expected to provide a cushion to earnings.
Growth in fee income, ex-financial markets, is expected to be 19/20 percent.
YES Bank continues to demonstrate strong asset quality performance even as the economic environment continues to pose challenges. We expect the healthy trend to continue.
Overall, we lower the earnings estimate by 12/10 percent for FY14E/15E, to factor lower risk adjusted margins.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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YES Bank Q2 net seen up 3.4% at Rs 316.5 cr: Motilal Oswal
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