Yes Bank Surges On Strong Results

yes_bankMr. Rana Kapoor, Managing Director & CEO, Yes Bank said, “Yes Bank  has delivered another steady quarter with impressive financial performance driven by sustained execution across all parameters. The Bank has achieved robust growth in profits with healthy NII and Non-Interest Income growth while maintaining Asset Quality despite a challenging economic environment. With another satisfactory year behind us, the Bank is on track to achieve Version 2.0 objectives. We are well positioned for FY 2014 as we continue our balanced growth trajectory, supported by our differentiated product and services proposition, and expanding retail footprint”

He also added, “The Bank has incorporated a Retail Broking subsidiary and has hired key Top Management to roll out a retail broking platform. The Retail Brokerage will complement our current retail offerings and enable cross-selling of 3 in 1 accounts to our expanding base of Retail customers”.

Yes Bank’s net profit for the quarter ended March 31, 2013 jumped by 33.24% at Rs 362.15 crore for the quarter as compared to Rs 271.80 crore for the quarter ended March 31, 2012. Bank’s total income has increased by 30.07% at Rs 2667.03 c rore for the quarter under review as compared to Rs 2051.45 crore for the corresponding quarter of the previous fiscal.

The bank’s net profit for the year ended March 31, 2013 rose by 33.13% at Rs 1300.68 crore as compared to Rs 976.99 crore for the previous year ended March 31, 2012. Its total income has surged by 33.31% to Rs 9551.43 crore for the year under review from Rs 7164.47 crore for the previous year.

On consolidated basis, the Group’s net profit stood at Rs 1300.68 crore, while its total income was at Rs 9551.43 crore for the year ended March 31, 2013.

Meanwhile, the bank’s net Interest Income rose by 42.37% at Rs 638.1 crore for Q4FY13 as compared to Rs 448.2 in Q4FY12. The bank’s gross NPA for the March 31, 2013 quarter of the current fiscal stood at 0.20%, as compared to 0.22% in the same quarter of the previous year, however, the same stood at 0.17% for December quarter. Besides, bank’s Net NPA stood at 0.01% as compared to 0.05% in the corresponding quarter of the previous year and 0.04% in the previous quarter.

A summary of the results :

  • Net Profit growth of 33.2% to  Rs362.2 crore due to expansion in NIMs, healthy growth in NII & non-interest income along with improved cost-to-income ratio for the quarter
  • NII increased by 42.4% with steady growth in assets, and NIM expansion y-o-y; Non-interest grew by 42.4% y-o-y
  • CASA ratio has improved to 18.9%; growing 71.6% y-o-y with SA growth at 140.5%
  • Healthy Asset Quality trend continues with Gross NPA at 0.20% and Net NPA at 0.01%
  • Tier I Capital steady at 9.5% with strong internal accruals; Total Capital Adequacy at 18.3%
  •  Dividend of  Rs 6 per share (60%) recommended by the Management & Board, an increase of 50% over FY12.
  • Dividend payout ratio at healthy 16.5%

The shares of Yes Bank traded between Rs 464.15 and Rs 488 on the NSE.