Action can be seen in SBI today. According to information received from sources, approval has been given to sell stake in Yes Bank. SBI has been given approval to sell stake in Yes Bank.
The lock in period ended in March. SBI has 25 percent stake in Yes Bank. SBI has shares worth about 18000 crores in Yes Bank. According to sources, Bain Capital and Saudi Arabia's wealth fund can buy SBI's stake in Yes Bank. Japan's fund is also interested in buying stake in Yes Bank.
SBI's shares bought at Rs 10 in Yes Bank have reached around Rs 26-27. In such a situation, SBI is going to hit the jackpot in Yes Bank this year. In such a situation, investors should keep an eye on SBI along with Yes Bank.
How were the results of Yes Bank?
If we look at the fourth quarter results of Yes Bank, the net profit has increased from Rs 202.4 crore to Rs 454 crore on an annual basis. Due to reduction in provisioning and tax right bank, profit has increased.
In the fourth quarter, the bank's interest income has increased by 2.3 percent year-on-year to Rs 2,153.1 crore, which was Rs 2,105.2 crore in the fourth quarter of the previous financial year. Net interest margin (NIM) has remained flat at 2.4 percent. NIM remains at a 9 quarter low of 2.4 percent.
Disbursement has increased by 24.55 percent to Rs 32709 crore. Advances have increased by 12.1 percent to a 4 quarter peak of Rs 227799 crore. On a quarterly basis, advances have been at the highest level in 10 quarters.
Yes Bank's conference call
Yes Bank's conference call said that as a bank, all the metrics of the bank have seen consistent improvement in the last year. After reconstruction, the bank has made profit for the third consecutive year in the financial year 2024. This is the third consecutive year of profitability. Despite increasing PCR, RoA has been 0.5 percent in FY 2024. RIDF will gradually decrease. After the mid-market, SME segment, the highest loan growth has been seen in retail. Asset quality has also improved.