Any current/future new fundraising through debt or equity?

The transcript does not explicitly mention any current or planned fundraising through debt or equity. There is a mention of Basel III Tier 2 bonds and infrastructure bonds being upgraded to A rating, but no indication of a new issue. The bank is focused on organic growth, improving margins, and optimizing deposits without explicitly discussing fresh capital raising. Discussions on inorganic acquisition relate to possible microfinance business acquisition, not a fundraising event. The bank is managing costs tightly and focusing on profitability improvements to support growth. Overall, no direct

Any current/future capex/capital investment/strategic investment?

YES Bank has been investing consistently in technology and digital capabilities over the past three years despite challenges. Recently launched "IRIS by YES Bank," a comprehensive mobile banking app with over 75 features catering to retail customers. Investments also include expanding branch network with plans to open 150 branches in the current financial year. Focus remains on digital innovation, with initiatives like UPI payments through Rupay credit cards, interoperability on RBI CBDC app, and issuing ONDC Network Gift Card. The bank continues investing for the future while maintaining tigh

Future growth expectations in sales/revenue/volumes?

YES Bank expects loan growth around mid-teens in the near term, with liabilities growing faster and becoming more granular. Government banking deposits at ₹20,000 Crores are considered sustainable, with anticipated growth driven by granular deposits without offering higher interest rates. Retail loan growth is being managed cautiously, expected to slow down to around 25% by year-end due to focus on profitability and risk management. Corporate banking growth strategy focuses on building a granular, high-return book with robust risk management, growing client base, and cross-selling. Fee income

Future growth expectations in earnings/operating earnings/profits/EPS?

YES Bank targets loan and advances growth around mid-teens with liabilities growing faster and becoming more granular. Net Interest Margin (NIM) is expected to bottom out by Q2 FY2024, with margin expansion anticipated going forward. Medium-term outlook sees NIM operating at 3%+ and Pre-Provision Operating Profit (PPOP) to assets ratio at 2%+, up from current ~1%. Cost to income ratio, currently 70-75%, expected to decline as benefits from branch and technology investments materialize. Credit cost guidance maintained at ~50 bps; net slippages expected to improve post-December 2023 quarter. ROA

Yes Bank LtdQ2 FY24Banks

Yes Bank Ltd Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹20.8P/E: 18.7Market Cap: ₹70.6K CrSector: Banks

Management growth scorecard

Revenue

Category 3

Margin

Category 2

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

YES Bank expects loan growth around mid-teens in the near term, with liabilities growing faster and becoming more granular.
Government banking deposits at ₹20,000 Crores are considered sustainable, with anticipated growth driven by granular deposits without offering higher interest rates.
Retail loan growth is being managed cautiously, expected to slow down to around 25% by year-end due to focus on profitability and risk management.
Corporate banking growth strategy focuses on building a granular, high-return book with robust risk management, growing client base, and cross-selling.
Fee income is expected to expand driven by transaction banking flows, trade, FX, and cross-sell initiatives.
UPI transaction volumes remain strong with a market share of about 38%, handling 3.5 billion transactions per month.
Digital capabilities, including recently launched mobile app "IRIS", are supporting growth in new-age businesses and retail deposits.
Overall, margins are expected to stabilize and improve from Q3 FY2024, supporting medium-term revenue growth.

Margin guidance

Category 2

YES Bank targets loan and advances growth around mid-teens with liabilities growing faster and becoming more granular.
Net Interest Margin (NIM) is expected to bottom out by Q2 FY2024, with margin expansion anticipated going forward.
Medium-term outlook sees NIM operating at 3%+ and Pre-Provision Operating Profit (PPOP) to assets ratio at 2%+, up from current ~1%.
Cost to income ratio, currently 70-75%, expected to decline as benefits from branch and technology investments materialize.
Credit cost guidance maintained at ~50 bps; net slippages expected to improve post-December 2023 quarter.
ROA target set at 1% medium-term.
Operating expenses growth is tightly controlled (0.5% QoQ), aiding profitability.
Fee income momentum strong, supporting overall earnings growth.
Recovery from Security Receipts expected to positively impact P&L from the next financial year.

See what Yes Bank Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

The transcript does not explicitly mention any current or planned fundraising through debt or equity.
There is a mention of Basel III Tier 2 bonds and infrastructure bonds being upgraded to A rating, but no indication of a new issue.
The bank is focused on organic growth, improving margins, and optimizing deposits without explicitly discussing fresh capital raising.
Discussions on inorganic acquisition relate to possible microfinance business acquisition, not a fundraising event.
The bank is managing costs tightly and focusing on profitability improvements to support growth.
Overall, no direct reference to new debt or equity fundraising was provided in the call.

Order book

The transcript from YES Bank's Q2 FY2024 earnings call does not provide specific details on the current or expected order book or pending orders. The discussion primarily focuses on bank performance metrics, strategic initiatives, asset quality, deposit growth, margins, and digital capabilities, but does not mention order book status or pending orders. Therefore, no information about order book or pending orders is available in the provided pages of the document.

See what Yes Bank Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

YES Bank has been investing consistently in technology and digital capabilities over the past three years despite challenges.
Recently launched "IRIS by YES Bank," a comprehensive mobile banking app with over 75 features catering to retail customers.
Investments also include expanding branch network with plans to open 150 branches in the current financial year.
Focus remains on digital innovation, with initiatives like UPI payments through Rupay credit cards, interoperability on RBI CBDC app, and issuing ONDC Network Gift Card.
The bank continues investing for the future while maintaining tight control on operating expenses, aiming for cost-to-income ratio improvement.
A dedicated strategy and transformation office headed by Mr. Pankaj Sharma has been set up to accelerate growth with profitability through execution of key initiatives.

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