YES Bank advances up 13% on year as on Sept 30; deposits jump 18%
This story was originally published at 10:57 IST on 3 October 2024
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--YES Bank: Loans, advances INR 2.37 tln as on Sept 30, up 13% on year
--YES Bank: Deposits INR 2.77 tln as on Sept 30, up 18.3% on year
--YES Bank: CASA ratio 32.0% as on Sept 30 vs 30.8% quarter ago
MUMBAI – YES Bank Ltd.'s loans and advances increased 13.1% on year and 3.0% on quarter to INR 2.37 trillion as of Sept. 30, the private sector bank informed its provisional numbers to exchanges Thursday.
However, the private sector bank reported higher growth on the deposit side. The bank's deposit book grew 18.3% on year to INR 2.77 trillion as of Sept. 30. The bank's deposits rose 4.6% during Jul-Sept.
In the past few months, the Reserve Bank of India's top officials have on multiple occasions warned that India's banking sector could face significant liquidity risks owing to the widening credit-deposit gap. With credit growth outpacing deposit growth, most banks have raised their deposit rates amid rising competition.
Out of the total deposits, the current account and savings account saw an on-quarter jump of 8.6% and an on-year surge of 28.4% to INR 885.59 billion as of Sept. 30.
The CASA ratio also improved to 32.0% as of Sept. 30 from 30.8% a quarter ago and 29.4% a year ago. Meanwhile, as of Sept. 30, the liquidity coverage ratio of the bank was 131.9% as against 120.9% a year ago.
In Apr-Jun, YES Bank had reported a 46.7% on-year and 11.2% on-quarter rise in net profit to INR 5.02 billion on the back of a fall in provisions and strong growth in advances.
At 0934 IST, shares of the bank traded 0.8% lower at INR 22.23 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Richard Fargose
Edited by Manisha Baxla
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