Yes Bank Share price: Investec reduces book value per share by 3%, target price to Rs19 (from Rs 20)
FY22e looks uncertain due to economic stress, Yes Bank reported standstill and SMA2 numbers which are in line with our previous expectations of 6% slippages and 5% restructuring to fully account for the legacy and covid related stress. However, in addition to this, Yes Bank reported SMA1 of 5.7% (excl restructuring including above) which is inline with the system average and similar to peer banks (3-5% range).
Investec reduces book value per share by 3% and target price to Rs19 (from Rs20) and retain Hold: Reuters