Yes Bank Limited
NSE Symbol YESBANK
YES BANK
has declared EXCELLENT RESULTS - in line
with other premier Private Banks – for the third quarter ending Dec,2011.
Third
Quarter ended Dec 31, 2011
(Vs Q3FY12)
Net
Profit up 33.0% to Rs. 254.1 cr (Rs.191.1 cr in
Q3FY11)
Net
Interest Income up 32.3% to Rs.427.6 cr
(Rs.323.2 cr in Q3FY11)
Non
Interest Income up 30.8% to Rs.211.4 cr (Rs.161.7 cr in Q3FY11)
Operating
Profit up 28.1% to Rs.398.8 cr (Rs.311.2
cr in Q3FY11)
Cost to
Income ratio of 37.6%
Return
on Average Assets - RoA(annualized) of 1.5%; RoA has been at or above 1.5% over
the past 13 quarters
Return
on Equity-RoE (annualized) of 23.0%; approximately 20% or above over past 13
quarters
Basic
EPS of Rs.7.23 and Diluted EPS of Rs.7.08
Highlights
for
9 months
ended Dec 31, 2011 (9MFY12)
Net
Profit up 34.6% to Rs.705.2 cr (Rs. 523.7 cr in 9MFY11)
Net
Interest Income up 29.9% to Rs.1,167.4 cr (Rs.898.4 cr in 9MFY11)
Non
Interest Income up 35.3% to Rs. 590.8 cr ( Rs. 436.5 cr in 9MFY11)
Operating
Profit up 31.9% to Rs.1,109.9 cr (Rs. 841.6 cr in 9MFY11)
Cost to
Income ratio of 36.9%
Net
Interest Margin at 2.8%
Return
on Equity – RoE of 22.5%
Basic
EPS of Rs.20.16 and Diluted EPS of Rs.19.66
The
Total EPS for first 3 Qtrs is Rs.20.17.The annual EPS is likely to be Rs.27.4.
The current Market price of Yes Bank share is Rs.318, while the 52 week high price is Rs.341.1 and the 52 week low price is Rs.230.5.
The
PE Ratio is Rs.11.61. Yes Bank is one of the most consistent performers among
the new generation Banks and is growing at a very good rate, while maintaining
excellent asset quality.
Other Key
Highlights as at Dec 31, 2011
Customer
Assets up 28.1% to ` 43,754.6 cr (` 34,151.3 cr at Dec 31, 2010)
Advances
up 15.3% to Rs.35,867.8 cr (Rs.31,112.2 cr at Dec 31, 2010)
Deposits
up 19.0% to Rs.46,929.1 cr ( Rs.39,452.8 cr at Dec 31, 2010)
CASA
Ratio increased to 12.6% with CASA growing by 46.5% y-o-y to ` 5,913.5 cr (` 4,036.9 cr at Dec 31, 2010
with CASA Ratio of 10.2%)
Branch
Banking Liabilities (CASA + Branch Banking FD) has improved from 23.7% of Total
Deposits as of Dec 31, 2010 to 30.7% as of Dec 31, 2011
Capital
Adequacy Ratio of 16.1% (Tier I – 9.2%; 9.7% including Q3FY12 PAT)
Gross
NPA at 0.20% of Gross Advances
Net NPA
at 0.04% of Net Advances
Restructured
advances at 0.49% of Gross Advances
Specific
provisioning cover at 80.0%; Total Loan Loss Cover of 375%
Book
value per share of ` 129.5
Employee
strength stood at 5,013
Other High lights
·
Customer Assets (Loans &
Credit Substitutes) grew by 28.1% y-o-y to Rs.43,754.6 Cr as at December 31, 2011.
·
Total Assets grew by 36.1% to
Rs. 71,109.1 Cr as at December 31,
2011 from Rs.52,244.7 Cr as at December
31, 2010.
·
CASA deposits grew by 46.5%
to Rs.5,913.5 Cr taking the CASA
ratio to 12.6% as at December 31, 2011 up from CASA Ratio of 11.0% as of
September 30, 2011.
·
Savings Account Deposits grew
by 99.2% y-o-y & 40.0% q-o-q to Rs.1,202.6
Cr as of December 31, 2011.
·
Branch Banking Liabilities
(CASA + Branch Banking term deposits) improved from 23.7% of Total Deposits as
of December 31, 2010 to 30.7% as of December 31, 2011.
·
Corporate & Institutional
Banking (Large Corporates) accounted for 63.4% of the Advances portfolio,
Commercial Banking (Mid-sized Corporates) accounted for 21.4% and Branch
Banking (SME & Retail) – 15.2%.
·
The Cost to Income ratio was
37.6% in Q3FY12. Net Profit in Q3FY12 was up 33.0% at `
254.1 Cr from ` 191.1 Cr for Q3FY11 (highest
ever for the Bank since its inception).
·
Operating profit for 9MFY12
was up 31.9% to Rs.1,109.9 Cr as compared to Rs.841.6 Cr for 9MFY11. The Cost to income ratio was
flat at 36.9% in 9MFY12. Net Profit for 9MFY12 was up 34.6% to `
705.2 Cr from ` 523.7 Cr in 9MFY11.
·
Bank’s total loan loss
coverage ratio was at 375% while specific provisioning cover was at 80.0% as at
December 31, 2011. Total Restructured Advances (excluding NPAs) is at 0.49% of
Gross Advances as at December 31, 2011.
·
The Bank delivered RoE of
23.0% and RoA of 1.5% for Q3FY12. RoE is 22.5% and ROA was 1.5% for 9MFY12.
Return on Assets has been at or above 1.5% over the past 13 quarters, and
Return on Equity has been approximately 20% or above over the same period.
·
Capital Funds: Tier I Capital stood at 9.2% (9.7% including Q3 FY12 PAT)
and total CRAR stood at 16.1% as at December 31, 2011. Total Capital
funds grew by 18.8% to Rs. 8,118.6 Cr as at Dec 31, 2011
compared to Rs.
6,832.0 Cr as at Dec 31, 2010. The Bank has
improved its Tier I Ratio over September 30, 2011, despite growth in the
Balance Sheet by increasing percentage of Rated Advances.
Attractive Rates for Retail Liabilities
§ The
Bank raised Interest rates for Resident Savings accounts, with balances over
Rs.1 Lakh, by 100 bps, to 7.0%. This is in addition to the
existing 6% interest offered to customers for balances below Rs.
1 Lakh
§ YES BANK has also increased
interest rates on Non-Resident Indians fixed deposits to 9.6% per
annum. This interest rate, effective December 23, 2011, is
applicable on deposits for a tenor of 15 Months 15 Days to 16 Months.
Awards & Recognitions :
§ Adjudged
the Fastest Growing & Strongest Large Bank (balance sheet > 50,000
cr) in the Business Today-KPMG Survey of Best Banks 2011
§ Received the Silver Shield
for Excellence in Financial Reporting from The Institute of Chartered
Accountants of India (ICAI) in the category of Private Banks (including
Cooperative Banks).
§ Received the Power Brand
2011 award in London, December 2011
§ Ranked as the Greenest
Financial Sector Company in the Carbon Disclosure Leadership Index, for the
Carbon Disclosure Project in India 2011
§ Dr.Kapoor
was ranked the 2nd Most Valuable Indian CEO
(LARGE size companies’ category) by BUSINESS WORLD, December 2011
§ Dr. Rana Kapoor was Ranked as the Business Standard – Indian Banker of the
Year, 2010 - 2011
§ Dr. Rana Kapoor won the ‘CEO of the Year Award’ at the Global Awards for
Excellence, 2011
§ Dr. Rana Kapoor was conferred
the ‘Indian Entrepreneur of the Year’ award at the Asia Pacific -
Entrepreneur of the Year Awards from Enterprise Asia in November 2011
Capital Raising Initiative
§ YES BANK successfully raised Rs. 2,430
million of Lower Tier II Capital, rated LAA by ICRA and CARE
AA by CARE, from Banks, Insurance Companies, Provident Funds & Corporates.
Expansion Initiatives
§ YES BANK added 26 new branches
across the country during the quarter. The Bank has more than doubled its
branch count over the past 18 months to 331 branches pan India.
§ Employee strength stood at 5,013
as on December 31, 2011, representing an increase of 1,084 employees till
date in FY 2012.
Financial Advisory
§ YES BANK was the Sole
Underwriter and Lead Arranger of Senior Debt of ` 876 Crs for L&T Infrastructure Development Projects Ltd for
four laning of 131 km road stretch from Rajkot to Vadinar in the state of
Gujarat
Equity & Debt Capital Markets
§ YES BANK was the Sole Arranger
of a 3 Year Bond Issue of `
150 cr for Housing Development Finance Corporation
Ltd.
§ YES BANK was the Sole Arranger
of a 3 Year Bond Issue of `
100 cr for LIC Housing Finance Ltd.
§ YES BANK was the Sole Arranger
of a 10 Year Subordinate Bond Issue of `
100 cr for Mahindra & Mahindra Financial
Services Ltd.
The Detailed comparison of the results
between Q3 FY 12 and Q2 FY12, Q1 FY 12 and Q3 FY 11 is given below:
|
YES BANK
|
31-Dec-11
|
30-Sep-11
|
%dif1
|
30-Jun-11
|
%dif2
|
31-Dec-10
|
%dif3
|
|
Interest
on Advances
|
117264
|
103177
|
13.65
|
102620
|
14.27
|
81775
|
43.4
|
|
Income
on Investments
|
50598
|
39807
|
27.11
|
36477
|
38.71
|
29933
|
69.04
|
|
Income
on Balances With RBI
|
487
|
414
|
17.63
|
798
|
-38.97
|
702
|
-30.63
|
|
Others
|
57
|
467
|
-87.8
|
59
|
-3.39
|
205
|
-72.2
|
|
Interest
Earned
|
168406
|
143865
|
17.06
|
139954
|
20.33
|
112615
|
49.54
|
|
Other
Income
|
21143
|
21405
|
-1.22
|
16529
|
27.91
|
16167
|
30.78
|
|
Total
Income
|
189549
|
165270
|
14.69
|
156483
|
21.13
|
128782
|
47.19
|
|
Interest
Expended
|
125648
|
105302
|
19.32
|
104535
|
20.2
|
80299
|
56.48
|
|
Employees
Cost
|
12170
|
10995
|
10.69
|
10981
|
10.83
|
9033
|
34.73
|
|
Other
Oprtng Expenses
|
11847
|
10381
|
14.12
|
8457
|
40.09
|
8325
|
42.31
|
|
Oprting
Expenses
|
24017
|
21376
|
12.35
|
19438
|
23.56
|
17358
|
38.36
|
|
Total
Expdr.excl.prov.
|
149665
|
126678
|
18.15
|
123973
|
20.72
|
97657
|
53.26
|
|
Operating
Profit
|
39884
|
38592
|
3.35
|
32510
|
22.68
|
31125
|
28.14
|
|
Provisions
|
2235
|
3787
|
-41
|
151
|
1380.1
|
2495
|
-10.42
|
|
Profit before tax
|
37649
|
34805
|
8.17
|
32359
|
16.35
|
28630
|
31.5
|
|
Tax
Expense
|
12240
|
11303
|
8.29
|
10751
|
13.85
|
9518
|
28.6
|
|
Net
Profit
|
25409
|
23502
|
8.11
|
21608
|
17.59
|
19112
|
32.95
|
|
Face
Value(Rs.)
|
10
|
10
|
0
|
10
|
0
|
10
|
0
|
|
Paid-up
Equity
|
35193
|
35105
|
0.25
|
34814
|
1.09
|
34678
|
1.49
|
|
Capital
Adequacy Ratio
|
16.13
|
15.98
|
0.94
|
16.22
|
-0.55
|
18.22
|
-11.47
|
|
Basic EPS
|
7.23
|
6.73
|
7.43
|
6.21
|
16.43
|
5.52
|
30.98
|
|
Diluted
EPS
|
7.08
|
6.56
|
7.93
|
6.04
|
17.22
|
5.28
|
34.09
|
|
Gross/Net
NPA
|
1441
|
1364
|
5.65
|
267
|
439.7
|
1738
|
-17.09
|
|
% of Gross/Net NPA
|
0.04
|
0.04
|
0
|
0.01
|
300
|
0.06
|
-33.33
|
|
Return
on Assets
|
1.5
|
1.57
|
-4.46
|
1.49
|
0.67
|
1.47
|
2.04
|
|
Public
holding (%)
|
73.79
|
73.72
|
0.09
|
73.5
|
0.39
|
73.4
|
0.53
|
* *
* E N
D * * *
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