Morgan Stanley initiates coverage in Yes Bank, sees downside of 9%
In its report, Morgan Stanley said YES Bank is moving in the right direction post 2020 NPA crisis. It stated that the bank has focused on reducing asset quality challenges by accelerating provisions and cleaning up its balance sheet organically as well as via asset sales. It expects gross impaired loans to fall to 9% by end of FY23 from a peak of 22% in March 2020.
