Yes Bank reported better than expected earnings for the
quarter ended June 30 mostly on all the key parameters and the asset quality
has also shown considerable improvement on a quarter-on-quarter basis (QoQ).
The private sector
lender reported 31.9% year-on-year (YoY) rise in net profit for the
quarter ended June to Rs 965.5 crore which was higher than the CNBC-TV18
estimate of Rs 919 crore. Yes Bank reported a
net profit of Rs 731.80 crore for the corresponding quarter last year and Rs
914.12 crores in the previous quarter.
The Net interest
income, the difference between interest earned and interest expended, grew by
44% on a YoY basis to Rs 1808.90 crore driven by growth in Advances and
CASA, and steady expansion in net interest margin (NIM).Analysts polled by
CNBC-TV18 had estimated a net interest income of Rs 1736.50 crore. It reported
an NII of Rs 1,256.10 crore in the year-ago period.The net interest
margin expanded to 3.7% for Q1FY18 from 3.6 percent in Q4FY17.
The Board has also
approved Stock Split in the ratio of 5 for 1, subject to approval from
Shareholders’ and RBI.“We will be shortly
commencing our 14th year of commercial operations one more quarter from now and
we remain well on course to achieve our stated objectives for 2020 with yet
another quarter of overall satisfactory performance,” Rana Kapoor, Managing
Director & CEO, YES BANK said in a statement.
“The Board is also
pleased to approve Stock Split in the ratio of 5 for 1 and takes this
opportunity to thank its shareholders for their valued support,” he said.
Gross Non-Performing
Advances (GNPA) at 0.97 percent (Rs 1,364.4 Crores) and Net Non-Performing
Advances (NNPA) at 0.39% (Rs 545.3 Crores).Almost 60% recovered from one extraordinary account classified as NPA in Q4FY17. Further
time bound recoveries expected. Provision Coverage Ratio (PCR) stands at 60
percent.
The total Standard
Restructured Advances as a proportion of Gross Advances was at 0.24% (Rs
331.4 crore) as at June 30, 2017, down from 0.36 percent as at March 31, 2017.
No additional restructuring during the quarter.One
account (equivalent to 0.07 percent of Gross Advances) was upgraded during the
quarter from Restructured to Standard Asset due to satisfactory conduct during
the prescribed period.
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