INSUBCONTINENT EXCLUSIVE:
Private sector lender YES Bank may report subdued earnings for the quarter ended June 30 on rising provisions amid deteriorating asset
The lender is scheduled to announce financial results on Wednesday.
Kotak Institutional Equities projected a loss of Rs 578.60 crore in
Q1FY19 for YES Bank against a net profit of Rs 1,260.40 crore in the corresponding quarter last year
The lender reported a loss of Rs 1,506.60 crore in the preceding quarter ended March 2019
The brokerage house also expects that loan growth to decelerate further to 8 per cent YoY and 4 per cent QoQ
where the bank had exposure
An assessment by Kotak also showed that pre-provision profit of the lender may decline 45 per cent on 2.10 per cent rise in net interest
Fee income and treasury income may tumble 56 per cent and 52 per cent, respectively, for the quarter ended June 30.
Brokerage firm Prabhudas
Lilladher projected 84 per cent YoY fall in profit at Rs 201.10 crore on 22 per cent YoY rise in pre-provisioning operating profit
It also said the asset quality of the lender may deteriorate further with percentage of gross non-performing assets (NPA) spiking to 3.70
per cent in Q1FY19 over 3.22 per cent in Q1FY18