Yes Bank Moat Analysis: Score & Risks
Yes Bank Ltd.
A first-pass moat teardown of Yes Bank Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Intangible Assets. Provisional, single-pass evidence.
Yes Bank Ltd. scores 5.56 on MoatSCORE 6.0 — a narrow moat in Banks. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“The top priority of the management, since the reconstruction of the bank, has been to build back the liability franchise and the bank has taken various steps and initiatives in this regard.”
“Improvement in the deposit profile with increase in CASA and retail deposits leading to reduction in cost of deposits on a sustained basis”
“we have also seen really leveraging our branches as the core fulcrum of our business and generating Assets and Fee-based businesses out of those branches as well”
“over the last 4 quarters, we have improved our CASA ratio by nearly 350 basis points, unlike the industry trend, which has seen a drop in their CASA ratio over the same period”
“being prudent on the cost of deposits through a focus on granular and low-cost Current Account & Savings Accounts (CASA)”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 5.0 — below 6, so the band is capped narrow. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 113 Indian companies we have scored for moat durability — 88 narrow, 25 narrow-trending-wide, none wide. The full ranked read: Wide-Moat Stocks in India: We Scored 113 Companies and Found None. Every score, dimension by dimension, is free in the Moat Screener.
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