YES BANK
 |
| RANA KAPOOR, MD & CEO |
RESULTS FOR Q2 FY 2013
SEP, 2012
YES BANK has,
once again, announced an excellent set of results for the second quarter of FY
2013 ending Sep, 2013.
Ø Net Profit of Rs.306.1 Cr in Q2 FY13; y-o-y growth of 30.2%; Net
Profit of Rs.596.2 Cr in H1 FY13 ; y-o-y growth of 32.2%
Ø Net Interest Income grew at 35.9% with NIM expanding to
2.9%
Ø Customer Assets (loans & credit substitutes) growth
of 32.5%y-o-y and Loan growth of 22.9%
y-o-y
Ø Savings Accounts deposits increased by 351.3% y-o-y;
CASA grew by 86.7% y-o-y ;
Ø CASA Ratio improves to 17.3%
Ø Number of Branches stands at 400; 186 branches added
since March 2011
Profit & Loss Statement
Highlights
YesBank(Crs)
|
Q2 FY13
|
Q2 FY12
|
Growth
|
H1FY13
|
H1FY12
|
Growth
|
Net Interest Income
|
524.2
|
385.6
|
35.90%
|
996.4
|
739.8
|
34.70%
|
Non Intt Income
|
276.8
|
214
|
29.30%
|
564.9
|
379.3
|
48.90%
|
Total Net Income
|
800.9
|
599.7
|
33.60%
|
1,561.20
|
1,119.20
|
39.50%
|
Operating Proft
|
484.7
|
385.9
|
25.60%
|
944.4
|
711
|
32.80%
|
ProfitAfter Tax
|
306.1
|
235
|
30.20%
|
596.2
|
451.1
|
32.20%
|
Basic EPS(Rs)
|
8.6
|
6.7
|
27.80%
|
16.8
|
12.9
|
29.80%
|
Key Performance
Indicators
Yes Bank
|
Q2FY13
|
Q2FY12
|
Q1FY13
|
R.O.A.
|
1.50%
|
1.60%
|
1.50%
|
R.O.E.
|
23.80%
|
22.60%
|
24.00%
|
NIM
|
2.90%
|
2.90%
|
2.80%
|
Cost to Income
|
39.50%
|
35.60%
|
39.50%
|
Non IntIncome to Total Income
|
34.60%
|
35.70%
|
37.90%
|
CapitalAdeuqcy
|
17.50%
|
16.00%
|
16.50%
|
TierI Ratio
|
9.50%
|
9.40%
|
9.20%
|
B.V.(Rs)
|
149.2
|
122.2
|
140.7
|
GrossNPA
|
0.24%
|
0.20%
|
0.28%
|
NetNPA
|
0.05%
|
0.04%
|
0.06%
|
BALANCE SHEET DETAILS
Yes.Bank. B.Sht
|
Sep,2012
|
Sep,2011
|
Growth
|
June,2012
|
Growth
|
CustomerAssets
|
54,017.30
|
40,760.10
|
32.50%
|
49,338.70
|
9.50%
|
Advances
|
42,019.30
|
34,194.10
|
22.90%
|
38,533.90
|
9.00%
|
Deposits
|
52,290.80
|
44,075.90
|
18.60%
|
50,208.10
|
4.10%
|
Shareholders'Funds
|
5,313.50
|
4,290.70
|
23.80%
|
4,978.40
|
6.70%
|
Total Capital Funds
|
10,894.00
|
7,860.20
|
38.60%
|
9,494.90
|
14.70%
|
TotalB/Sht
|
82,974.60
|
62,751.80
|
32.20%
|
78,223.90
|
6.10%
|
Commenting on the results, Dr. Rana Kapoor, MD & CEO, YES BANK
said, “This quarter has once again demonstrated a stable financial performance
through a meaningful contribution from all revenue streams, strong asset
quality and sustained growth momentum. The Bank has achieved steady growth in
profits on the back of impressive growth
in NII of 35.9% with sustained growth in Customer Assets of 32.5% and sequentially improving margins to 2.9%. The Bank continues its momentum
of accelerating traction in SA with
y-o-y growth of 351.3%, resulting in
CASA ratio improving to 17.3%. With the
branch network crossing 400 and the
launch of new products, and the Bank expects to continue this momentum to achieve further granularity
in liabilities and assets. We are also confident
that our foray in the securities broking business will further our commitment towards a „One-bank approach‟ to our
customers.”
Q2FY13 and H1FY13 Performance
highlights
Stable growth in Advances and
Deposits: Total Advances grew by
22.9% to Rs. 42,019.3
Cr as at Sep. 30, 2012 from Rs.
34,194.1 Cr as at Sep. 30, 2011.
Customer Assets (Loans & Credit Substitutes) grew
by 32.5% y-o-y to Rs.54,017.3 Cr as at Sep.
30, 2012.
Current and Savings Account (CASA)
deposits grew by 86.7% y-o-y to
Rs.9,034.1 Cr taking the CASA
ratio to 17.3% as at Sep. 30, 2012 up from 11.0% as of Sep. 30, 2011. The Bank
continues to demonstrate increased traction in CASA on the back of enhanced Savings Rate offerings and
improvements in productivity.
Retail Banking Liabilities (CASA + Retail Banking term
deposits) improved from 28.6% of Total Deposits as of Sep.
30, 2011 to 36.6% as of Sep.
30, 2012. The share of Retail Banking Liabilites
has increased from 21.8% of total deposits in March 2010 to 36.6% in Sep. 2012 (over 10 quarters).
Total Deposits grew by 18.6% to Rs.52,290.8 Cr as at Sep. 30, 2012 from Rs.
44,075.9 Cr as at Sep. 30, 2011. The Bank‟s Total Assets grew by 32.2% to Rs.
82,974.6 Cr as at Sep. 30, 2012 from ` 62,751.8 Cr as at Sep. 30, 2011.
Corporate & Institutional Banking
(Large Corporates) accounted for 67.4% of the portfolio, Commercial
Banking (Mid-sized Corporates) accounted for
17.9% and Retail Banking (including MSME) – 14.7%.
Robust Net Interest Income (NII)
Growth: NII for Q2FY13 increased by 35.9% y-o-y to Rs. 524.2 Cr from Rs. 385.6 Cr in Q2FY12. This was on account of
a sustained growth in advances & investments coupled with steady NIM of
2.9%.
NII for H1FY13 was up 34.7% to Rs.996.4
Cr as compared to Rs. 739.8 Cr for H1FY12.
Steady growth in Non Interest Income: Non
Interest Income grew by 29.3% y-o-y to Rs. 276.8 Cr for Q2FY13 from Rs.214.0 Cr in Q2FY12. This was on the back of
continued growth across all the fee
income streams – Financial
Advisory, Financial Markets, Transaction Banking, and Retail Banking Fees & Others,
that showed firm traction y-o-y.
Non Interest Income displayed robust growth of 48.9%
to Rs.564.9 Cr in H1FY13 as compared
to Rs. 379.3 Cr in H1FY12.
Operating and Net profit: Operating
profit for Q2FY13 was up 25.6% to Rs.484.7 Cr as compared to Rs.385.9 Cr for Q2FY12 driven
by strong growth in NII and
Non-Interest Income.
The Cost to Income ratio was 39.5% in
Q2FY13 versus 35.6% in Q2FY12. Net Profit in Q2FY13 was up 30.2% at Rs.306.1 Cr from Rs.235.0 Cr for Q2FY12.
Operating profit for H1FY13 was up
32.8% to Rs. 944.4 Cr as compared to Rs. 711.0 Cr for H1FY12. The Cost to
income ratio was 39.5% in H1FY13 versus 36.5% in H1FY12. Net Profit for H1FY13
was up 32.2% to Rs.596.2 Cr from Rs.451.1
Cr in H1FY12.
Consistently healthy Asset Quality:
Gross Non Performing Advances as a proportion of Gross advances was at 0.24% while Net Non
Performing Advances as a proportion of Net advances was at 0.05% as at Sep. 30,
2012 as against 0.20% and 0.04% respectively as at Sep. 30, 2011.
Bank‟s specific provisioning cover was at
80.4% as at Sep. 30, 2012.
Total restructured advances
(excluding NPAs) stand at Rs.192.2 Cr as at Sep.
30, 2012. This represents 0.46% of the Gross Advances. There have been no new
restructurings in this quarter.
Strong Shareholders’ returns: Bank delivered RoE of 23.8% and RoA of 1.5% for Q2 FY13. RoE was 24.0% and ROA was
1.5% for H1FY13. RoA has been at or above 1.5% for the last 4 years, and Return
on Equity has been approximately 20% or above over the same period.
Capital Funds: Tier I Capital stood at
9.5% and total CRAR stood at 17.5% as at Sep 30, 2012. Tier I ratio has remained stable around 9.5%
despite the balance sheet increasing by 40.6% since March 2011 (6 quarters of
steady growth).
Total Capital funds grew by 38.6% to Rs.
10,894.0 Cr as at Sep 30, 2012 compared to Rs.7,860.2 Cr as at Sep 30, 2011.
Capital Raising Initiatives
Ø Successfully raised Rs. 200.0 Cr of Upper Tier II Capital, rated
ICRA AA- by ICRA and CARE AA- by CARE. It also raised Rs. 600.0 Cr of Lower Tier II Capital, rated ICRA AA by ICRA and
CARE AA by CARE.
Expansion Initiatives
Ø
Added 19 branches during the quarter, taking the
total branch count to 400.
Ø
Added
52 ATMs to its network during the quarter, taking the total count to 694 ATMs.
Ø
Employee strength stood at 6,307 as on Sep 30,
2012; an addition of 1,593 employees in 12
months.
Ø
Won the bids to install and operate ATMs
across several Kolkata Metro stations.
Awards
& Recognitions
Ø
the
only Bank and one of the only two Indian organizations to be ranked highest
on Corporate Governance Watch
2012 in Asia – CLSA Asia-Pacific Markets (market cap less than USD 10 billion).
Ø
was
conferred the CIO100 Award by the CIO, a
globally reputed Business Technology
Magazine.
Ø
the
only Indian company to receive ‘The OKOVISION Sustainability Leadership Award’
by ÖKOWORLD LUX S.A., a leading independent investment company based in Luxembourg & Germany, for
its commitment to Sustainable Banking.
Ø
won five awards at The Sunday Standard FINWIZ
2012-Best Bankers Awards including Best Private Sector Banker – Mid-Sized,
Safest Banker – Mid-Sized, Best Banker in Growth and Expansion – Mid-Sized ,
Best Banker in Efficiency and Profitability – MidSized, as well as the Best
Indian Banker in the Mid-Sized Bank’s category award for Dr. Rana Kapoor.
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