Transcript of Earnings Call for the un-audited Financial Results for the Quarter (Q1) ended June 30, 2026

YBL/CS/2026-27/66 July 24, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot no. C/1, G Block, Corporate Relations Department Bandra - Kurla Complex, Bandra (E) P.J. Towers, Dalal Street Mumbai - 400 051 Mumbai – 400 001 NSE Symbol: YESBANK BSE Scrip Code: 532648 Dear Sir/Madam, Sub.: Transcript of Earnings Call for the un-audited Financial Results for the Quarter (Q1) ended June 30, 2026 Ref.: Reg. 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Please find attached the transcript of the earnings call hosted by YES Bank Limited (“the Bank”) on July 18, 2026, for the un-audited Financial Results for the Quarter (Q1) ended June 30, 2026. The same is made available on the Bank’s website within the timeline prescribed under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and can be accessed at the following link: https://www.yes.bank.in/pdf?name=q1fy27_analyst_call_transcript.pdf The weblink of BSE Limited and National Stock Exchange of India Limited providing the above information is being hosted on the Bank’s website www.yes.bank.in pursuant to Listing Regulations, as amended. You are requested to take the same on record. Yours faithfully, For YES BANK LIMITED Sanjay Abhyankar Company Secretary Encl.: As above “YES Bank Limited Q1FY27 Earnings Conference Call” July 18, 2026 MANAGEMENT: MR. VINAY M. TONSE – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER DR. RAJAN PENTAL – EXECUTIVE DIRECTOR MR. MANISH JAIN – EXECUTIVE DIRECTOR MR. NIRANJAN BANODKAR – CHIEF FINANCIAL OFFICER MR. SUNIL PARNAMI – HEAD INVESTOR RELATIONS AND SUSTAINABILITY Page 1 of 17 YES Bank Limited July 18, 2026 Moderator: Ladies and gentlemen, good day, and welcome to YES Bank's Q1FY27 Earnings Conference Call. On the management panel, we have with us today Mr. Vinay M. Tonse, Managing Director and Chief Executive Officer; Dr. Rajan Pental, Executive Director; Mr. Manish Jain, Executive Director; Mr. Niranjan Banodkar, Chief Financial Officer; and Mr. Sunil Parnami, Head Investor Relations and Sustainability. Mr. Vinay M. Tonse will now give you an overview of the results, which will be followed by a Q&A session. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. Participants are requested to ask questions pertaining to the Bank's Q1FY27 results only. For any other information, you may reach out to the Corporate Communications team separately. I now hand the conference over to Mr. Vinay M. Tonse. Thank you, and over to you, sir. Vinay M. Tonse: Thank you very much. Good afternoon, everyone. And at the outset, thank you for joining us for the YES Bank Quarter 1 FY27 Earnings Conference Call. I know today, many other banks are also coming up with their results, and I really appreciate all of you joining us. Here, I'm joined by my senior leadership team, and we look forward to taking you through the key highlights of the quarter, and we'll be very happy to answer your questions thereafter. Before I turn to our performance, let me start with a few words on the environment in which we operated this quarter. The Q1 quarter was characterized by resilient domestic demand, strong tax buoyancy and steady manufacturing momentum set against rising cost pressures and a more uncertain global backdrop. Encouragingly, the underlying momentum remains firm. Direct tax collections grew a healthy 16.4%. GST stayed strong at nearly INR 1.95 lakh crores of collections in June. Manufacturing has now been in expansion mode for 37 straight months. Industrial production hit a 5-month high, led by capital goods. The strength is also being reflected in the uptick in the system- level loan growth over the past few months. 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%, though the monsoon recovered well after a dry start easing some of that concern. However, on a positive note, the GDP growth forecasts have not been impaired. Now I turn to the highlights of our Q1 performance. It's against the backdrop which I just gave that at the core, this has been another encouraging quarter for us. Our Net Profit grew 33.7% that is year-on-year to INR 1,071 crores. What I would really like to highlight is the quality of this quarter's delivery. We Page 2 of 17 YES Bank Limited July 18, 2026 achieved these results even after moderation of some of our non-core income streams such as 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 and Treasury Income too was lower. There was a one-off interest income on tax refunds of INR 119 crores during this quarter. But even normalizing for that one-off, the underlying performance remains strong. In many ways, this is precisely the outcome we had spoken about last quarter about our core business gradually taking over from the one-off gains, and that's exactly what's happening now with our recurring, sustainable earnings engine increasingly driving performance, and that's exactly the direction we want to be heading towards. Our Operating Profit grew 25.5% year-on-year to INR 1,704 crores. 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. We continue to benefit from lower Cost of Deposits even as Yields are impacted by the interest rate cut transmission and the change in mix. Having said this, 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. The continued rundown of the low-yielding RIDF and Priority Sector Deposits, disciplined Deposit repricing and improving CASA mix. I would caution that, 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. Fee momentum has been a real positive for us. 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. Sustained cost discipline remains core to how we run the franchise. 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. Return on Assets (ROA) for the quarter was 0.9% and Return on Equity (ROE) was 8.3%. Moving to the Asset Quality. We see a further improvement of Asset Quality this quarter, and it has been the case despite the seasonality that the first quarter typically carries. 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. Normalized for an intra-quarter account movement in quarter 4, Slippages are at broadly similar levels quarter-on-quarter. And most encouragingly, the improvement in the Retail segment has continued with Retail Slippages at the lowest in the past 10 quarters. And having said that, our work continues. Our GNPA and NNPA ratio stand at 1.3% and 0.2%, respectively, with Provision Coverage healthy at 81.7%. Our Recoveries and Upgrades for the quarter aggregated to INR 564 crores, including INR 86 crores from Security Receipts portfolio. Despite tepid gains from the SR portfolio in Q1, we maintain our guidance of INR 800 crores to INR 1,000 crores of gains from this portfolio for this financial year '27. Page 3 of 17 YES Bank Limited July 18, 2026 Moving on to the growth and Balance Sheet. Growth was broad-based across our businesses. T [Showing first 8,000 characters — download PDF for full document]