Yes Bank Crashes 10% As Global Brokerages Turn Cautious Post Q2 Results

Global brokerages turned cautions on Yes Bank as they maintain either sell, hold or neutral rating, a day after the private sector lender reported a divergence in gross bad loans of Rs 6,355 crore for FY17.

Reacting to the results, shares of Yes Bank plunged nearly 10 percent in opening trade on Friday. It hit a low of Rs 298.55. At 09:20 am, Yes Bank was trading 8 percent lower at Rs 304.

Yes Bank reported a 25 percent jump in net profit for the second quarter ended September 2017. It increased to Rs 1,002 crore from Rs 802 crore a year earlier, but the bank had to set aside Rs 447 crore as provisions which were one-and-a-half times higher than the Rs 162 crore reported a year earlier, said a report.

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