Private sector lender YES Bank will focus on recoveries and opening CASA accounts and believes that Covid-related stress on its books would start easing in coming quarters.
“Our understanding is that this is the peak in terms of non-performing assets and slippages and now it would start coming down,” said Prashant Kumar, Managing Director and CEO, YES Bank.
Three factors
Kumar attributed this to three factors –improving collection efficiency, lower cheque bounce rates and throughput through accounts.
Also read: YES Bank posts Q3 net of ₹151 crore
“Collection efficiency is now at 96 per cent as against pre-Covid level of 97 per cent. The cheque bounce rate, which was normally at seven per cent to eight per cent rose to 18 per cent during Covid and is now at nine per cent. Through put through accounts has also reached almost pre-Covid levels. It means there is good churning in accounts, incidence of bounce backs are not there,” he told BusinessLine in an interaction after…