India's Yes Bank slips after Q1 results; Citi remains cautious

Yes Bank

20/07/2026 06:48

** Shares of Yes Bank YESB.NS down about 2% to 23.17 rupees--lowest since June 12
** Co, on July 18, reported 34% jump in Q1 profit to 10.7 billion rupees ($110.93 million)
** Net interest margin sequentially flat at 2.7%, Q1 return on assets at 0.9% vs 0.8% year ago
** Citi notes bank's return on assets nearing 1% is "encouraging", but what is critical is to sustain and expand core RoA--stripping out security receipts (SR) tailwinds
** Lower SR recoveries pushed normalised credit costs above 0.5% - brokerage
** Citi adds that retail slippages, or new loans turning non-performing, increased across both secured and unsecured products
** Brokerage maintains "Sell" rating; TP raised to 22 rupees from 19.50 rupees
** YTD, stock up 7.4%
     
     
($1 = 96.4550 Indian rupees)

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com; (+91) 8296756080))