Yes Bank

Yes Bank Q1 net profit rises 10% on higher interest income

Yes-BankMumbai: Private sector lender Yes Bank on Wednesday said it has reported a 9.6 percent jump in its net profit at Rs 439.5 crore for the first quarter ended June 2014, driven by higher net interest income.

The bank had reported a profit after tax of Rs 400.8 crore in the year ago quarter.

"Profits were higher, driven by a 13 percent increase in net interest income," Yes Bank Chief Financial Officer Rajat Monga told reporters here.

He said the profit would have been higher by around 10 percent in Q1 had it got the similar gains it had realised on account trading in the year ago quarter.

Yes Bank eyes healthy growth in retail, SME lending

Yes-BankNew Delhi, May 1 :  Yes Bank is expecting good growth from retail and SME lending business in the current financial year that will help improve the risk profile of the country’s fourth largest private sector lender, a senior official said.

“With improving stability in currency and the macro environment, the bank is well positioned to grow its lending book, especially for retail and SME sector,” said Jaideep Iyer, deputy chief financial officer of Yes Bank.

“The bank has navigated the current slowdown very well in terms of asset quality with gross non-performing assets and net non-performing assets being under control,” Iyer told IANS.

Bombay HC to hear Madhu’s plea challenging Yes Bank directors’ appointment

Bombay HC to hear Madhu’s plea challenging Yes Bank directors’ appointmentThe Bombay High Court on Monday agreed to hear Madhu Kapur's plea that challenges the appointment of three directors on the board of private-sector lender Yes Bank.

Yes Bank chief meets Madhu Kapur in order to settle disputes out of court

Yes Bank chief meets Madhu Kapur in order to settle disputes out of courtPrivate sector lender Yes bank's management is trying to settle disputes with the bank's late co-founder Ashok Kapur's wife Madhu Kapur out of court, a person with direct knowledge of the matter said.

Speaking on the condition of anonymity, the person revealed that Yes Bank MD & CEO Rana Kapoor on Saturday met with Madhu Kapur as part of his efforts to hit settlement.

Yes Bank and Axis Bank revise interest rates upwards

Yes Bank and Axis Bank revise interest rates upwardsTwo major private-sector lenders Yes Bank and Axis Bank on Wednesday revised their lending and deposit rates upwards; just a day after the Reserve Bank of India (RBI) maintained the status quo on its key policy rate.

Yes Bank hiked its interest rates on deposits across select tenors by 25 basis points to 50 basis points. It also revised lending base rate upwards by 25 basis points to 10.75 per cent.

Yes Bank first to hike rates after RBI move

Yes-BankMumbai, July 31 :  Yes Bank, the country's fourth largest private sector lender, Wednesday hiked lending and deposit rates, a day after the Reserve Bank of India (RBI) kept key policy rates unchanged and cut growth forecast.

Yes Bank has become the first lender to hike rates. Others may follow as the RBI move has tightened liquidity in the markets.

Yes Bank said it will hike its deposit rates by 0.25 percent to 0.5 percent in select tenors effective from Aug 1.

"This provides an opportunity for retail depositors to lock in higher rates on term deposits," the bank said in a statement.

Bombay High Court defers Yes Bank case

Bombay High Court defers Yes Bank case The high-profile case of the nomination of Yes Bank's late co-founder Ashok Kapur's daughter Shagun Gogia Kapur to the private sector lender's board was deferred on Monday by the Bombay High Court, as the lender's lawyers opposed the amendments made in application by the petitioner.

Late Ashok Kapur's daughter Madhu Kapur currently owns nearly 12 per cent stake in Yes bank and wants to nominate her daughter Shagun to the board. The board rejected Shagun's nomination on June 27, saying she failed to meet the Reserve Bank of India's `fit and proper' norms.

Yes Bank not to accept Gogia as a director

Yes Bank not to accept Gogia as a directorYES Bank has said that it will not accept the application filed by Shagun Gogia to be a part of its board of directors.

The bank said that she cannot become a member of the board as the legal heir of one of the two founders. The bank also cited composition of boards of other banks such as ICICI Bank, HDFC Bank and Kotak Mahindra Bank.

Yes Bank promotes three executives as whole-time directors

Yes Bank promotes three executives as whole-time directorsPrivate sector lender Yes Bank on Friday confirmed the elevation of its three top executives as whole-time directors, even as the controversy over the nomination of the bank's co-founder Ashok Gogia's appointment as a member of the board remains unresolved.

At its meeting held on Thursday, June 27, the board of directors approved the elevation of executive director & CFO Rajat Monga, wholesale banking executive director Sanjay Palve and branch & retail banking executive director Pralay Mondal to the positions of whole-time directors.

Yes Bank gets government nod to hike foreign holding

yes-bankNew Delhi, June 28 : The government has approved private sector lender Yes Bank's proposal to increase foreign holdings in the company to 60 percent that is likely to result in overseas equity inflow of Rs. 2,650 crore.

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Manmohan Singh approved the proposal at a meeting here Thursday.

The cabinet has given its approval based on the recommendations of the Foreign Investment Promotion Board (FIPB).

The FIPB had sent the proposal to the cabinet as the amount involved was more than Rs. 1,200 crore, the limit beyond which the board cannot take final decision.

Yes Bank faces internal strife at AGM

Yes Bank faces internal strife at AGMYes bank is facing an internal strife at the ongoing Annual General Meeting on Saturday between the two promoters of the bank, the Kapur family and Rana Kapoor, the current managing director.

The Kapur family and some of the shareholders are opposing a resolution for electing three directors proposed by the present management led by Rana Kapoor. A shareholder said that the resolution was put to vote as some of the shareholders demanded that it should be put to vote at the AGM hold on sunday.

Yes Bank reports 33% rise in Q4 net interest income

Yes Bank reports 33% rise in Q4 net interest incomeYes Bank on Wednesday reported an impressive jumped of 33.2 per cent in fourth-quarter net profit at Rs 362.2 crore, thanks to strong growth in net interest income and higher margins.

The mid-sized private lender's net interest income jumped 42.4 per cent to Rs 638.1 crore year-on-year in the three months through March 31. The lender's non-interest income also grew at the same rate to Rs 379.4 crore.

YES BANK signs up as IPL's financial services partner

YES BANK signs up as IPL's financial services partnerNew Delhi, March 25 : YES BANK signed up as Indian Premier League's (IPL) official financial services partner Monday.

Commenting on this development, Rana Kapoor, founder of YES BANK said: "IPL is the foremost event property in India which through its vibrant and innovative platform brings together the entire country, irrespective of regional or demographic diversity.

"We are confident that YES BANK's association with IPL for five years will facilitate our brand recognition and further propel our pan-India retail banking franchise."

Yes Bank, IndusInd Bank looking to acquire Indian retail business of RBS

Yes Bank, IndusInd Bank looking to acquire Indian retail business of RBSYes Bank and IndusInd Bank are looking to acquire the Indian retail assets of Royal Bank of Scotland (RBS), according to reports.

The two banks are negotiating terms to acquire the Indian retail assets of the Scottish bank. Some people closer to the matter indicated that the two banks have expressed interest but there is no certainty that the deal will be finalized.

RBI grants equity broking permit to Yes Bank

Yes-BankIndia’s central bank, the Reserve Bank of India (RBI) has given its consent to Yes Bank for launching its securities broking business in the country.

The bank will now be able to offer a complete range of financial services to its customers including savings, investments, wealth and loan products with the launch of the new brokerage platform. Yes Bank is expected to launch the new securities broking business during the 2013-2014 financial year.

HSBC planning to sell stake in Axis Bank and Yes Bank

HSBC planning to sell stake in Axis Bank and Yes BankHSBC Securities Mauritius is planning to sell its stake in two private sector banks, Axis Bank and Yes Bank, according to various reports citing sources.

The deal to sell stake was routed via block window at a discount of 3 per cent and the shares of the two banks have fallen significantly. The global banking major sold 4.75 per cent stake or 2.05 crore shares in Axis Bank through several block deals. The shares of the bank were trading 3 per cent lower at Rs. 970.30 on the Bombay Stock Exchange (BSE).

Yes bank to woo non-resident savers with high interest rates

Yes bank to woo non-resident savers with high interest rates Private sector bank, Yes Bank has announced that it is increasing interest rates for non-resident investors, a move aimed at attracting more customers in the segment.

The bank has increased the interest rates to 7% for over Rs. 1 lakh balance, for all Non Resident Savings Accounts. The bank will offer 6 per cent interest for balance up to Rs. 1 lakh.

YES Bank increases Non Resident savings deposit rate to 7 per cent

YES Bank increases Non Resident savings deposit rate to 7 per centPrivate sector bank, YES Bank has announced an increase in interest rates it offers on savings to its customers following deregulation of interest rates by the authorities.

The bank has increased the interest rates to 7% for over Rs. 1 Lakh balance, for all Non Resident Savings Accounts. The bank will offer 6 per cent interest for balance up to Rs. 1 Lakh.

YES Bank net profit grows to Rs 235 crore in the second quarter

YES Bank net profit grows to Rs 235 crore in the second quarter YES Bank has recorded a growth of 33.3 per cent in net profit to Rs 235 crore in the second quarter of the financial year.

The bank saw a strong growth in its non-interest income even as there was a marginal fall in net interest margin. The private sector bank's net profit in the last quarter stood at Rs 176.3 crore. The bank's non-interest income rose by 63.4 per cent to Rs 214 crore and net interest income increased 23.1 per cent to Rs 385.6 crore.

Buy Yes Bank To Achieve Target Of Rs 370: Nirmal Bang

Buy Yes Bank To Achieve Target Of Rs 370: Nirmal BangIn its latest research report, Nirmal Bang, an equity research firm said that Yes Bank Limited stock can give good returns in the long term.

According to Nirmal Bang Research, the stock of the bank can be bought to achieve a target of Rs 370.

Today (March 08), the shares of the company opened at Rs 272.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 388 and a low of Rs 237.70 on BSE.

Current EPS & P/E ratio stood at 19.23 and 14.28 respectively.




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