YES Bank reports 2017 Q1 financial results

YES BANK announces Financial Results for the Quarter ended June 30, 2017

B. Stock Split of 5 for 1 approved by Board, subject to approval from Shareholders’ and RBI

1. PROFIT & LOSS (P&L): Superior Shareholder Returns, Steady Expansion in NIMs

Net Profit of ` 965.5 Crores in Q1FY18; y-o-y growth of 31.9%
Net Interest Income of ` 1,808.9 Crores for Q1FY18; y-o-y growth of 44.0% driven by growth in Advances & CASA, and steady expansion in NIM
NIM expanded to 3.7% for Q1FY18 from 3.6% in Q4FY17
Non-Interest Income of ` 1,132.2 Crores for Q1FY18; y-o-y growth of 17.8%
Total Net Income of ` 2,941.1 Crores in Q1FY18 y-o-y growth of 32.7%
Operating Profit of ` 1,704.2 Crores for Q1FY18; y-o-y growth of 30.4%
Highly satisfactory return ratios with RoA at 1.8% and RoE at 17.4%. Book Value at ` 489.3 per share

2. BALANCE SHEET: Robust Growth with Improving CASA & Capital Ratios

Total Assets grew by 25.3% y-o-y to ` 222,145.2 Crores
Total Deposits grew by 22.6% y-o-y to ` 150,240.9 Crores
CASA ratio at 36.8%, an increase of 7.2% in one year, on the back of 52.2% growth y-o-y
SA and CA deposits posted strong growth of 45.8% and 66.6% respectively y-o-y
CASA + Retail FDs as a % of Total Deposits stands at a healthy 61.8%, an increase of 6.5% in one year
Advances grew by 32.1% to ` 139,971.8 Crores on the back of robust growth in both Corporate and Retail businesses. Core Retail Advances grew by 166% y-o-y
Total Capital Adequacy at 17.6%. Total Capital Funds stand at ` 32,541.3 Crores
Tier I Ratio and CET I ratio increases to 13.8% and 11.9% respectively (by 50 bps each compared to the previous quarter)
Risk Weighted Assets stood at ` 185,221.2 Crores. RWA to Total Assets at 83.4%

3. STABLE ASSET QUALITY: Recovery in One Extraordinary Account

Credit Costs at 18 bps for Q1FY18. Provision on one extraordinary account (declared as NPA in Q4FY17) Retained
Gross Non Performing Advances (GNPA) at 0.97% (` 1,364.4 Crores) and Net Non Performing Advances (NNPA) at 0.39% (` 545.3 Crores). ~60% recovered from one extraordinary account classified as NPA in Q4FY17. Further time bound recoveries expected
Provision Coverage Ratio (PCR) stands at 60.0%
No new restructuring; Sale to ARC; SDR; 5:25 Refinancing; S4A during the quarter.
One account (0.07%) was upgraded during the quarter from Restructured to Standard Asset due to satisfactory conduct during the prescribed period
Outstanding Standard Advances of 0.24% (` 343.3 Crores) to only 2 borrowers where YES Bank has modest exposure (out of the 12 borrowers to be referred to NCLT under the Insolvency and Bankruptcy Code - IBC) with 50% provision made proactively against the fully secured exposures well in advance of the regulatory prescribed period

Re-disseminated by The Asian Banker