Yes Bank Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Yes Bank Ltd filed with BSE on 24 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
YES Bank reported Q1FY27 net profit growth of 33.7% year-on-year to Rs 1,071 crores, with operating profit up 25.5% to Rs 1,704 crores. Net Interest Income rose 17.5% year-on-year to Rs 2,786 crores while NIM improved 20 basis points year-on-year to 2.7%, and asset quality metrics such as gross slippage and GNPA improved sequentially. Management also cited rating upgrades from Moody's, CARE, ICRA and S&P Global during the quarter, and discussed a Board-approved enabling resolution for a future capital raise.
Numbers mentioned
Net Profit: INR 1,071 crores (Q1 FY27)
p. 3
“Our Net Profit grew 33.7% that is year-on-year to INR 1,071 crores.”
Vinay M. Tonse, page 3 of the filed PDF · View the filing
Operating Profit: INR 1,704 crores (Q1 FY27)
p. 4
“Our Operating Profit grew 25.5% year-on-year to INR 1,704 crores.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Net Interest Income: INR 2,786 crores (Q1 FY27)
p. 4
“Net Interest Income was up 17.5% year-on-year at INR 2,786 crores, and our Net Interest Margin improved 20 basis points year-on-year to 2.7%, also holding steady sequentially.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Net Interest Margin: 2.7% (Q1 FY27)
p. 4
“Net Interest Income was up 17.5% year-on-year at INR 2,786 crores, and our Net Interest Margin improved 20 basis points year-on-year to 2.7%, also holding steady sequentially.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Core Fees growth: 18.7% (Q1 FY27)
p. 4
“Our Core Fees registered a strong 18.7% growth year-on-year with broad-based traction across cards, third-party products, forex as well as transaction banking.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Cost-to-Income Ratio: 62.8% (Q1 FY27)
p. 4
“Our Cost-to-Income Ratio improved further to 62.8% from 67.1% a year ago, reflecting genuine operating leverage - income growing well ahead of costs.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Return on Assets: 0.9% (Q1 FY27)
p. 4
“Return on Assets (ROA) for the quarter was 0.9% and Return on Equity (ROE) was 8.3%.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Return on Equity: 8.3% (Q1 FY27)
p. 4
“Return on Assets (ROA) for the quarter was 0.9% and Return on Equity (ROE) was 8.3%.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Gross Slippage: 1.4% of Advances (Q1 FY27)
p. 4
“On a reported basis, Gross Slippage was lower at 1.4% of Advances against 1.6% in the previous quarter and 2.4% in quarter 1 FY26.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
GNPA ratio: 1.3% (Q1 FY27)
p. 4
“Our GNPA and NNPA ratio stand at 1.3% and 0.2%, respectively, with Provision Coverage healthy at 81.7%.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Total Advances: INR 2.85 lakh crores (Q1 FY27)
p. 5
“Total Advances grew 18.3% year-on-year to INR 2.85 lakh crores.”
Vinay M. Tonse, page 5 of the filed PDF · View the filing
Total Deposits: INR 3.15 lakh crores (Q1 FY27)
p. 5
“On Deposits, the Total Deposits grew 14.3% year-on-year to INR 3.15 lakh crores.”
Vinay M. Tonse, page 5 of the filed PDF · View the filing
CET-1 ratio: 14% (Q1 FY27)
p. 5
“Our capital and liquidity positions remain comfortable with a CET-1 ratio of 14% and LCR of 138.2%.”
Vinay M. Tonse, page 5 of the filed PDF · View the filing
SR portfolio gains: INR 86 crores (Q1 FY27)
p. 4
“gains from our Security Receipts (SRs) portfolio, which was significantly lower at INR 86 crores this quarter against INR 338 crores in the same quarter last year”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
One-off interest income on tax refunds: INR 119 crores (Q1 FY27)
p. 4
“There was a one-off interest income on tax refunds of INR 119 crores during this quarter.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Net Interest Margin — 3% plus · next 2 years
stated as an aspiration by Vinay M. Tonse
p. 4
“our near-term aspiration is to move the NIM towards the 3% plus handle over the next 2 years and the underlying levers are well understood.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
SR portfolio gains — INR 800 crores to INR 1,000 crores · FY27
stated conditionally by Vinay M. Tonse
p. 4
“we maintain our guidance of INR 800 crores to INR 1,000 crores of gains from this portfolio for this financial year '27.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
Full year ROA — around 1% · FY27
stated as an aspiration by Vinay M. Tonse
p. 6
“While our aspiration would be delivering a full year ROA around 1%, our focus would remain on improving the core Profitability and grow Advances and Deposits around in a Profitable and calibrated way”
Vinay M. Tonse, page 6 of the filed PDF · View the filing
Loan growth — 15% to 17%
stated as an aspiration by Vinay M. Tonse
p. 6
“we endeavor to grow at a little above what the industry would be growing at and which is what makes us happy is, it could be in the range of may be 15% to 17%.”
Vinay M. Tonse, page 6 of the filed PDF · View the filing
Net Interest Margin — north of 3% · FY28
stated as an aspiration by Vinay M. Tonse
p. 8
“Yes. I think north of 3% is something we would be able to achieve.”
Vinay M. Tonse, page 8 of the filed PDF · View the filing
Retail loan growth — mid-teens · FY27
stated as an aspiration by Rajan Pental
p. 13
“Yes, sure. Absolutely. We are working towards that as well.”
Rajan Pental, page 13 of the filed PDF · View the filing
Core ROA expansion — 15 to 20 basis points · fiscal '27
stated firmly by Niranjan Banodkar
p. 13
“Our expectation is fiscal '27, we should see a 15 to 20 basis points expansion in the core ROA.”
Niranjan Banodkar, page 13 of the filed PDF · View the filing
Reported ROA — 1% · fiscal '27
stated conditionally by Niranjan Banodkar
p. 13
“if the resolutions, let's say, the external factors on bond gains and trading with all of those elements also play out, I think we should be able to also deliver the fully reported 1% ROA for fiscal '27.”
Niranjan Banodkar, page 13 of the filed PDF · View the filing
Retail disbursement growth translating to book growth — double-digit growth · 3 to 4 quarters from now
stated as an aspiration by Niranjan Banodkar
p. 15
“we should be able to deliver a double-digit growth as well on Retail.”
Niranjan Banodkar, page 15 of the filed PDF · View the filing
FCNR leverage — 9x
stated conditionally by Vinay M. Tonse
p. 7
“As of now, we have decided that we'll keep it to 9% - I mean 9x.”
Vinay M. Tonse, page 7 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said they aim to grow slightly above industry, in the 15-17% range.
Answered by Vinay M. Tonse
Asked by Dev Dey: What is the net loan book growth target for the year?
p. 6
“it could be in the range of may be 15% to 17%.”
Vinay M. Tonse, page 6 of the filed PDF · View the filing
Management said there is strong demand and leverage is being kept at 9x currently.
Answered by Vinay M. Tonse
Asked by M. B. Mahesh: What is the FCNR deposit opportunity and the bank's current positioning?
p. 7
“As of now, we have decided that we'll keep it to 9% - I mean 9x.”
Vinay M. Tonse, page 7 of the filed PDF · View the filing
Management explained that global borrowing spreads have risen and risk limits for India exposure take time to set up across institutions.
Answered by Niranjan Banodkar
Asked by M. B. Mahesh: What is constraining FCNR leverage product uptake on the ground?
p. 8
“the borrowing spreads globally have inched up, let's say, for the overseas financial institutions to take a macro view on India for a 5-year period, the spreads are higher now.”
Niranjan Banodkar, page 8 of the filed PDF · View the filing
Management said lower cost of deposits gives pricing power and they are also targeting higher-yielding products.
Answered by Vinay M. Tonse
Asked by M. B. Mahesh: How will margins improve given cost and yield pressures?
p. 8
“The Cost of Deposits going down, the Cost of Funding going down gives me a better leverage on the type of Assets we are picking up.”
Vinay M. Tonse, page 8 of the filed PDF · View the filing
Management said daily average balance CD ratio has remained stable and they will continue liability-led balance sheet expansion.
Answered by Niranjan Banodkar
Asked by Sajal Raj: Advances have grown faster than deposits this quarter; will deposit growth catch up?
p. 10
“we will continue to focus on liability-led Balance Sheet expansion.”
Niranjan Banodkar, page 10 of the filed PDF · View the filing
Management said recoveries are unpredictable and depend on J.C. Flower's execution pace, though the full-year range guidance is maintained.
Answered by Niranjan Banodkar
Asked by Shreyas Pimple: Why were SR recoveries lower this quarter versus prior quarters?
p. 10
“the recoveries that are going to come through are going to be a little bit more unpredictable, not that there is no stored capital or stored value sitting in the Security Receipts book.”
Niranjan Banodkar, page 10 of the filed PDF · View the filing
Management clarified that interest on tax refund sits in non-interest income, not NII, so it does not affect the NIM.
Answered by Niranjan Banodkar
Asked by Shreyas Pimple: Does the one-off interest income on tax refund affect NIM calculation?
p. 11
“Interest on Refund actually forms part of our Non-Interest Income and not part of the Net Interest Income.”
Niranjan Banodkar, page 11 of the filed PDF · View the filing
Management said the enabling resolution is a standard annual practice unrelated to any specific event or court case, and there is no financial statement adjustment for the case.
Answered by Niranjan Banodkar
Asked by Jai Mundhra: Is the capital raise linked to the pending AT1 court case?
p. 11
“it is not a trigger of any particular event or court case.”
Niranjan Banodkar, page 11 of the filed PDF · View the filing
Management said fresh disbursements are growing 25-30% and book growth should follow, targeting mid-teens over time.
Answered by Rajan Pental
Asked by Jai Mundhra: What is the outlook for retail loan growth in FY27?
p. 12
“on an incremental basis, actually, this is a business which is growing between 25% to 30% depending on segment to segment.”
Rajan Pental, page 12 of the filed PDF · View the filing
Management said the impact is expected to be immaterial on core equity once offsets from Security Receipts and new capital adequacy rules are considered.
Answered by Niranjan Banodkar
Asked by Jai Mundhra: What is the expected ECL transitional impact next year?
p. 14
“we do believe that the impact, if at all is not going to be material on our core equity.”
Niranjan Banodkar, page 14 of the filed PDF · View the filing
Management said the portfolio quality remains high with limited impact from the West Asia war.
Answered by Manish Jain
Asked by Shreyanth KT: Are there stress signs in Commercial Banking/MSME given cautious stance and recent Max situation?
p. 14
“there is very limited impact on the portfolio and the clients have managed this crisis very, very well.”
Manish Jain, page 14 of the filed PDF · View the filing
Management said the resolution is only an enabling one and any raise would be pursued only if beneficial for growth and shareholder value.
Answered by Niranjan Banodkar
Asked by Rama Subbareddy: How will the bank ensure existing shareholders are not diluted unfavorably in a future capital raise?
p. 16
“This resolution only gives the Bank the optionality to trigger a capital raise in the event we believe that the raise is going to be beneficial for the Bank for its growth and ultimately for creating value for its shareholders.”
Niranjan Banodkar, page 16 of the filed PDF · View the filing
Risks flagged
Inflation rose to a 17-month high, prompting RBI to raise its inflation projection
p. 3
“One area of pressure was inflation, which rose to a 17-month high of 4.4% on food and fuel costs, prompting RBI to lift its inflation projection to 5.1%”
Vinay M. Tonse, page 3 of the filed PDF · View the filing
Margin expansion will not be linear given rate cut cycle and deposit competition
p. 4
“with the rate cut cycle now on par and Deposit competition intense, margin expansion will be a steady structural climb rather than a straight-line quarter-to-quarter.”
Vinay M. Tonse, page 4 of the filed PDF · View the filing
SR portfolio recoveries are unpredictable and dependent on third-party execution
p. 10
“the resolution is a function of what J.C. Flower does, their execution, and we have no control on the pace or the timing of those executions.”
Niranjan Banodkar, page 10 of the filed PDF · View the filing
Geopolitical issues affecting FCNR leverage limit-setting process
p. 8
“there are also macro themes of geopolitical issues going on.”
Niranjan Banodkar, page 8 of the filed PDF · View the filing
Potential ECL transition impact at the gross level
p. 13
“at the gross level, there is likely to have some ECL impact.”
Niranjan Banodkar, page 13 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.