Friday, 29 March 2024

Yes Bank reports 2017 Q2 financial results

YES BANK announces Financial Results for the Quarter and Half Year ended September 30, 2017
 
1. PROFIT & LOSS (P&L): Sustained Profitability with improving Operating Leverage
• Net Profit of ` 1,002.7 Crores in Q2FY18; y-o-y growth of 25.1%
• Net Interest Income of ` 1,885.1 Crores for Q2FY18; y-o-y growth of 33.5% driven by steady growth in Advances & CASA, and expanding Margins.
• NIMs expanded to 3.7% for Q2FY18 from 3.4% in Q2FY17
• Non-Interest Income of ` 1,248.4 Crores for Q2FY18; y-o-y growth of 35.4%
• Total Net Income of ` 3,133.5 Crores in Q2FY18 y-o-y growth of 34.3%
• Operating Profit of ` 1,906.7 Crores for Q2FY18; y-o-y growth of 37.6%
• Cost to Income Ratio at 39.2%
• Satisfactory return ratios with RoA at 1.7% and RoE at 17.5%. Book Value at ` 102.2 per share (Book Value adjusted for 5:1 post stock split)
 
2. BALANCE SHEET: Market Share Gains with Improving granularity in Assets & Liabilities
• Total Assets grew by 26.7% y-o-y to ` 2,37,394.1 Crores
• Total Deposits grew by 23.4% y-o-y to ` 1,57,989.8 Crores
• CASA ratio at 37.2%, an increase of 6.9% in one year, on the back of 51.4% growth y-o-y
• SA and CA deposits posted strong growth of 51.6% and 51.1% respectively y-o-y
• CASA + Retail FDs as a % of Total Deposits stands at a healthy 61.7%, an increase of 5.2% in a year
• Advances grew by 34.9% to ` 1,48,675.3 Crores on the back of robust growth in both Corporate and Retail businesses. Retail Banking Advances grew by 78% y-o-y to 11.4% of Advances (up from 10.5% as on June 30, 2017)
• Total Capital Adequacy at 17.8%. Total Capital Funds stand at ` 35,690.3 Crores. Bank has further raised ` 6,915 Crores of Capital funds taking aggregate position to ` 42,605.3 Crores
• Tier I Ratio and CET I ratio healthy at 13.2% and 11.4% respectively
• Risk Weighted Assets stood at ` 2,00,137.8 Crores. RWA to Total Assets at 84.3%
 
Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “YES Bank has delivered another quarter of satisfactory performance with sustained earnings momentum, increasing granularity and improving efficiency, driven by productivity gains from investment in Human Capital, Infrastructure and new age technologies. Bank’s Retail Banking Advances have posted robust growth of 78% y-o-y to 11.4% of outstanding book and sustained momentum in CASA accretion gives us the confidence to achieve our target CASA ratio of 40% by September 2018, well ahead of our earlier target date of March 2020. Further, Bank’s Asset Quality continues to demonstrate resilience after duly incorporating full impact of the RBI RBS observations for FY17, concluded in October 2017. Going forward, Bank’s ‘Digital’ focus will continue to drive our strategy to deliver innovative solutions and rapidly capture market share across the new age Payment platforms and Digital ecosystems”
 
Re-disseminated by The Asian Banker
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