MUMBAI:
KEY HIGHLIGHTS for Q2FY19
Sustained Operating performance amidst external environmental challenges:
NII grew 28.2% y-o-y to ` 2,417.6 Crores; NIMs stable at 3.3%
Operating Profit grew 24.1% y-o-y to ` 2,366.4 Crores; Cost to Income ratio at 39.2% flat y-o-y
Net Profit declined 3.8% y-o-yto`964.7 Crores which includes impact of ` 252.2 Crores of one time MTM provisioning, predominantly on Corporate Bonds.After excluding investment related MTM provisions and Profit on Sale of investments Adjusted Net profit grew by 36.2% y-o-y
Stable Balance sheet growth with increasing granularity:
Advances grew by 61.2% y-o-y to ` 2,39,627.5 Crores with stable growth across segments
Retail Banking Advances grew 103.0%y-o-y to 14.3% of advances in comparison to 11.4% in Q2FY18
Total Deposits grew by 41.0% y-o-y to `2,22,837.9 Crores. CASA ratio at 33.8%
CASA + Retail FDs as a % of Total Deposits stands at a healthy 57.2% vs. 56.7% sequentially
RWA/ Total Assets improved to 81.3% from 81.6% on q-o-q basis and 84.3% on y-o-y basis
Total CRAR at 17.0%with Tier I ratio at 11.9% and CET I at 9.0%
Resilient Asset Quality:
GNPA at 1.60% and NNPA at0.84%
Increase in GNPA from earlier disclosed provisional ratio for Q2FY19 (on October 01, 2018) due to classification of one account with exposure of `631.2 Crores as NPA based on post period end review process. Bank expects prepayments and consequent upgrade of this exposure in Q3FY19.
Credit costs at 18 bps for the Quarter and 34 bps for Half Year ended September 30, 2018
Comfortable liquidity position: Liquidity Coverage Ratio of 100.5% as on September 30, 2018 and daily average Liquidity Coverage ratio of 99.4% for Q2FY19
Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, YES BANK said,“YES BANK has once again delivered satisfactory performance across balance sheet growth, core profitability and asset quality amidst external environmental challenges. Advances growth has been well segmented across Corporate, IBU, MSME and Retail Business. Moreover strong deposit growth with rising proportion of granular deposits (CASA + Retail FDs) is testament to the leverage created across people, branches and technology over the past few years. Inherent strength of the franchise has also been corroborated by recent re-iteration of ratings by various international and domestic credit rating agencies.
As we look forward, I can proudly confirm that the Bank,is fully institutionalized as the Professionals Bank of India, driven by a seasoned leadership of over 100+ top management professionals with significant experience in the industry as well as vintage with YES Bank; and remains well on course to achieve its long term vision of “Building the Finest Quality Large Bank of the World in India”.
2. PROFIT & LOSS: Sustained Operating performance in volatile external environment
Net Interest Income grew by 28.2% y-o-y to ` 2,417.6 Crores with NIMs stable at 3.3%
Non-Interest Income grew by 18.0% y-o-y to `1,473.5 Crores with Core Non Interest Income growing by 38.5% y-o-y
Cost to Income ratiostable at 39.2% on y-o-y basis
Operating Profit posted growth of 24.1% y-o-y to ` 2,366.4 Crores
Provisionsat `940.0Croreswhich includes:
Rs 409.2 Crores towards NPA provisioning; ` 9.7 Crores on account of NPI/ARC provision
Rs 344.9 Crores towards investment provisioning (excluding NPI/ ARC provision) of which `252.2 Crores of one time MTM provisioning,predominantly on Corporate Bonds, and `92.7 Crores of amortization of MTM provisions on Bonds allowed under the RBI dispensation
Rs 117.6 Crores of Standard Assets provisions
Net Profit declined 3.8% y-o-y to`964.7 Crores.After excluding impact of investment related MTM provisions and Profit on Sale of investments, Adjusted Net profit growth at36.2% y-o-y
Return ratios (annualized) for Q2FY19:RoA at 1.1%. RoEat14.4%.
Book Value at `118.4 per share as on September 30, 2018
