Paresh Sukhathankar is very well respected name in the banking circles and was expected to succeed to Aditya Puri at HDFC bank before his sudden departure. It would be big deal if he accepts to take over the job of CEO at Yes Bank. The stock may get immediately re-rated once the announcement happens.
Also Mr. Sukhatankar can join relatively quickly as he is not involved in full time job in any other bank as of now (involved in some education initiatives)
Looks like interesting times ahead!
Second month in a row & looks like the correction has made YES a favourite for Kotak, SBI & Reliance
Yes Bank Ltd - 532648 - Outcome of Board Meeting
People who are tracking this closely , can you please share your views on new CEO. How has his track record been in previous companies and how he is as a person of integrity. Can we assume that he can bring back past glory. Or bank will still be under control of RK indirectly. Trying to understand if he is just a puppet ceo or can be a game changer person.
Moderators please feel free to delete the comment if you think its irrelevant.
Disc : Holding since 5 years
I feel, till RK and his family are completely severed from the business, he will be indirectly calling the shots, and will only select a CEO who will co-operate with him in certain ways. I believe, there is bound to be way too much dirt under the carpet, and it will take RK time to sort it out.
It is not like, RK gets fired and everything gets sorted. There is bound to be plenty which the public cannot know.
Am just trying to join the dots, from what I have read in the media. Consider the above only as a conjecture. There have been almost a dozen companies under various names who have taken loan with Yes Bank in the back drop. These are muddy waters.
If the waters were not muddied and the matters were clear one way or other, then stock would have been at 100 or 400.
I see promoter holding has gone down as of Dec’18 as per Moneycontrol. Has somebody from the promoter group sold more shares (apart from Madhu Kapoor’s share sale)?
Edit : it seems Mags Finvest has sold around 0.07% of equity in Dec quarter.
Percentages don’t tell everything. Minor dips are due to esops… check absolute numbers for clearer picture.
Seems UBS on personal revenge mode. How come the target price is so low even without having divergence report yet.
More information about Ravneet Gill
Many have mentioned that UBS have a personal revenge (probably including myself) right from when Yes Bank was around Rs.400. Seems only UBS have been right so far which increased my respect in them. In banking, a conservative Bank is much better than an aggressive bank as bankruptcy is a real possibility. Yes Bank is probabaly the most aggressive bank in India.
If they are Aggressive in lending and aggressive in recovery too ,in that case both will balance out in case of defaults/ improper underwriting etc.
Isn’t it ?
Are they aggressive in recovery?
When did they classify loan as NPA and made provisions “aggressively”?
One cannot be aggressive in recovery as there are only certain things a bank can lawfully do. But it’s beyond doubt that they’re aggressive in NPA recognition as it is a double whammy for us shareholders as we do not know how bad the books are!
In case anybody missed this. Made me think.
You are just endorsing a rating agency UBS based on price target predicted and achieved during this carnage. Have you read out the report which was published by UBS for 150 target and rationale behind it, i read the report ans could not relate much. Do you feel yes bank could have gone down to 150 if RBI had not removed Rana Kapoor, NEVER. targets from morgen stenly were more than 500. Lets compare indusind and yes bank this quarter results. Indusind bank has not declared ILFS holding exposure as NPA wheres YES has fully declared as NPA and took 25% provisioning as well as per RBI guidelines. A bank growing at 54%, P/B 1.8, GNPA 2.2 including IL&FS is trading at pathatic markwt cap of 50000 cr, wait for 3 years to see valuation surpassing 200000 cr. Indusind has lot if hidden NPA and adament not to declare it, ravneet gill led bank will do wonders in coming years.
Mr. Hemindra Hazari has been consistently warning of ills in the Private Sector Banks since last several years, if I recall, at least, from 2010/11 onwards . Unfortunately market has not been discounting these fears and it has led to a lot of exuberance in almost all the private banks. The banker-borrower-broker-ministry nexus is rampant in India and almost all the companies seem to be involved in this. Better to be cautious and lean towards zero debt companies for the next few years.
