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Informist, Saturday, Apr. 19, 2025

 

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--YES Bank Jan-Mar net profit INR 7.38 bln 
--Analysts estimated YES Bank Jan-Mar net profit at INR 6.26 bln 
--YES Bank Jan-Mar net profit INR 7.38 bln vs INR 4.52 bln year ago 
--YES Bank gross NPA ratio 1.6% as on Mar 31, unch vs qtr ago 
--YES Bank net NPA ratio 0.3% as on Mar 31 vs 0.5% qtr ago 
--YES Bank FY25 net profit INR 24.06 bln vs INR 12.51 bln year ago 
--YES Bank Basel III capital adequacy ratio 15.6% as on Mar 31 
--YES Bank Jan-Mar total income INR 93.55 bln vs INR 90.16 bln year ago 
--YES Bank FY25 total income INR 367.52 bln vs INR 327 bln year ago 
--YES Bank Jan-Mar provisions INR 3.18 bln vs INR 4.71 bln year ago
--YES Bank Jan-Mar net interest income INR 22.76 bln, up 5.7% YoY 
--YES Bank NPA provision coverage ratio 87.6% as on Mar 31 
--YES Bank advances INR 2.46 tln as on Mar 31, up 8.1% YoY 
--YES Bank total deposits INR 2.85 tln as on Mar 31, up 6.8% YoY 
--YES Bank Jan-Mar net interest margin 2.5% vs 2.4% in Oct-Dec 
--YES Bank: CASA ratio at 34.3% as on Mar 31 vs 33.1% as on Dec 31 
--YES Bank Jan-Mar avg LCR 125% vs 133.2% in Oct-Dec 
--YES Bank: Retail slippages at 4.3% in Jan-Mar vs 4.7% in Oct-Dec 
--YES Bank Jan-Mar cost of deposits 6.1%, unch vs Oct-Dec 
--YES Bank Jan-Mar gross slippages INR 12.23 bln vs INR 13.48 bln qtr ago 
 

 

By Kshipra Petkar

 

MUMBAI – YES Bank's net profit surged in the Jan-Mar quarter due to a sharp fall in provisions. The bank's bottom line rose 63.3% on year to INR 7.4 billion, beating analysts' estimate of INR 6.26 billion. Sequentially, the net profit was up 20.6%. The bank's net profit for the financial year 2024-25 (Apr-Mar) was INR 24.06 billion, almost double that of INR 12.51 billion reported the previous year.

 

Provisions for the quarter ended March fell 32.4% on year to INR 3.18 billion. On a quarter-on-quarter basis, however, the provisions rose 23%. The asset quality of the bank was stable. The gross non-performing assets ratio was unchanged from a quarter ago at 1.6% as on Mar. 31, and the net NPA ratio fell marginally to 0.3% from 0.5% a quarter ago. The NPA provision coverage ratio was 87.6% as on Mar 31.

 

The bank's total income for Jan-Mar was INR 93.55 billion, higher than INR 90.16 billion reported a year ago. On a sequential basis, the total income growth was flat. The total income for FY25 stood at INR 367.52 billion.

 

Net interest income for the March quarter rose 5.7% on year to INR 22.76 billion. Sequentially, it was up 2.4%. Analysts had expected the net interest income at INR 22.44 billion. The net interest margin increased slightly to 2.5% from 2.4% in the previous quarter. "Sequential improvement driven by retiring of high-cost debt partially offset by decline in yield on advances," the bank said in the investor presentation. The cost of funds fell slightly to 6.4% from 6.5% in the previous quarter. The cost of deposits stood at 6.1%, unchanged from a quarter ago.

 

The balance sheet grew by 4.4% on year INR 4.23 trillion as on Mar 31. Within this, advances grew 8.1% on year to INR 2.46 trillion and deposits grew lower than advances at 6.8% to INR 2.85 trillion. The credit-deposit ratio of the bank was lower at 86.5 compared to 88.3% in the previous quarter and 85.5% in the corresponding quarter a year ago.

 

Within advances, retail book fell by 3.4% on year to INR 1.01 trillion as on Mar. 31, small and medium enterprise book grew 23.6% on year to INR 436.51 billion, and the mid corporate book grew 21.8% on year to INR 419.05 billion. Corporate book grew 11.5% to INR 590.73 billion. Sequentially, the corporate book fell by nearly 7%. Retail & SME form 59% of total advances, mid corporates form 17%, and corporates formed 24% of the book.

 

Within deposits, the current account, savings account deposits were up 18.4% on year at INR 974.80 billion and term deposits grew marginally by 1.6% on year to INR 1.87 trillion as on Mar 31. Within current account, savings account deposits, savings account grew at 32.2% on year, while current accounts grew at around 5%. The CASA ratio was 34.3% as on Mar 31. As on Mar 31, the bank had 1,255 branches.

 

In terms of slippages, the gross slippages for Jan-Mar were lower at INR 12.23 billion, compared to INR 13.48 billion in the previous quarter. Slippages, net of recoveries and upgrades, stood at INR 6.96 billion compared to INR 8.71 billion in Oct-Dec. The gross slippages from the retail segment stood at INR 11.01 billion as compared to INR 11.74 billion in the previous quarter. "Slippages of INR 60 million in Jan-Mar are from standard restructured advances pool of Oct-Dec," the investor presentation said.

 

The bank's capital adequacy ratio stood at 15.6% as on Mar. 31, with Tier-I capital ratio at 13.5% and tier-II capital ratio at 2.1%. The average liquidity coverage ratio was 125% compared to 133.2% in Oct-Dec. 

 

On Thursday, shares of the bank closed 1.2% higher at INR 18.09 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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