Wednesday, July 24, 2013

YES BANK - RESULTS -FOR Q1 FY 14 - Q.E.JUNE 2013 - EXCELLENT RESULTS - NPT UP 38.1%YoY;NET NPA 0.03%

YES BANK
Q1FY14 Financial Results

 Net Profit of Rs.400.8 crore in Q1FY14; y-o-y growth of 38.1% based on healthy growth in  Net Interest Income & Non-Interest Income

 Net Interest Income grew at 39.6% y-o-y with steady growth in advances, and NIM  expansion y-o-y; Non-Interest Income grew at 53.4%

 CASA Ratio has improved to 20.2% from 16.3% a year ago; CASA grew at 61.1% y-o-y  with Savings Accounts deposits increasing by 120.6% y-o-y

 45 branches added in the quarter taking total branches to 475; ATM count crosses 1,000

 Loan Growth steady at 24.3% y-o-y, with Deposit growth at a healthy 29.9% y-o-y

 As per Basel III, Tier I Capital steady at 9.5%; Total Capital Adequacy at 15.4%

 RoA at 1.6% and has been at or above 1.5% over the last 5 years, and RoE at 26.7%  continues to be at or above 20% over the same period

Financial Highlights from Q1FY14 Results:
Profit & Loss Statement Highlights

Rs.In Cr
Q1FY14
Q1FY13
Growth
Q4FY13
Growth
Net Interest Income
659.1
472.2
39.60%
638.1
3.30%
Non Interest Income
442.1
288.1
53.40%
379.4
16.50%
Total net income
1,101.20
760.3
44.80%
1,017.50
8.20%
Operating Profit
680
459.6
47.90%
633.9
7.30%
Profit After Tax
400.8
290.1
38.10%
362.2
10.70%
Basic EPS (Rs)
11.16
8.2
36.10%
10.1
10.50%

Balance Sheet Highlights

Rs.In Cr
30-Jun-13
30-Jun-12
Growth
31-Mar-13
Growth
CustomerAsstes
61,260.40
49,338.70
24.20%
60,356.30
1.50%
Advances
47,897.60
38,533.90
24.30%
46,999.60
1.90%
Deposits
65,244.80
50,208.10
29.90%
66,955.60
-2.60%
CASA
13,163.20
8,170.20
61.10%
12,687.50
3.70%
ShareholdersFunds
6,224.30
4,978.40
25.00%
5,807.70
7.20%
Total Capital Funds
10,666.00
9,785.00
9.00%
12,295.20
-13.20%
Total B/Sheet
100,802.00
78,223.90
28.90%
99,104.10
1.70%

*- Including Q1 Net Profit

Key Financial Performance Indicators

Q1FY14
Q1FY13
Q4FY13
ReturnOn Assets
1.60%
1.50%
1.60%
ReturnOn Equity
26.70%
24.00%
25.20%
NIM
3.00%
2.80%
3.00%
Costto Income Ratio
38.30%
39.50%
37.70%
NonIntt Income to Total Income
40.10%
37.90%
37.30%
CapitalAdequacy Ratio
15.40%
17.00%
18.30%
Tier I Ratio
9.50%
9.70%
9.50%
BookValue (Rs)
173
140.7
161.9
GrossNPA
0.22%
0.28%
0.20%
Net NPA
0.03%
0.06%
0.01%

* The Capad & Tier I Ratio for Q1FY14 have been computed (including Q1 FY14 Net Profit) under Basel III norms.

As per Basel II, Capital Adequacy for Q1 FY14 at 18.1% & Tier I at 9.7% (including Q1 FY14 Net Profit).

 Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director  & CEO, YES BANK said, “YES BANK has witnessed steady growth in Net Profit of 38.1%, on the back of strong NII, and continued focus on revenue diversity leading to a healthy increase in Non-Interest Income. The Bank has continued the strong traction on CASA & retail deposits with its CASA ratio crossing 20% for the first time since inception. Improved productivity, a wider and deeper branch network and continued focus on customized product offerings, have led to further growth of retail customers. I truly believe that the incremental branch expansion is an organizational imperative to further strengthen our Retail offerings, which is in accordance with our Version 2.0 Vision & Strategy of achieving scale along with improving granularity and diversity.”

Q1FY14 Performance highlights

 Stable growth in Advances and Deposits: Total Advances grew by 24.3% to  Rs. 47,897.6 crore as at June 30, 2013 from Rs. 38,533.9 crore as at June 30, 2012. Customer Assets (Loans & Credit Substitutes) grew by 24.2% y-o-y to Rs.61,260.4 crore as at June 30, 2013.

Current and Savings Account (CASA) deposits grew by 61.1% y-o-y to Rs. 13,163.2 crore  taking the CASA ratio to 20.2% as at June 30, 2013 up from 16.3% as of June 30, 2012. The Bank continues to demonstrate steady traction in CASA on the back of enhanced Savings Rate offerings, increasing branch network and improvements in productivity. The Savings Account deposits grew by 120.6% y-o-y to Rs. 6,621.6 crore as of June 30, 2013, and the Current Account deposits grew by 26.6% to Rs. 6,541.6 crore as of June 30, 2013. Retail Banking Liabilities (CASA + Retail Banking term deposits) stand at 38.8% of Total Deposits as of June 30, 2013.

Total Deposits grew by 29.9% to Rs. 65,244.8 crore as at June 30, 2013 from Rs. 50,208.1 crore as at June 30, 2012. The Banks Balance Sheet grew by 28.9% to Rs.100,802.0 crore as at June 30, 2013 from Rs. 78,223.9 crore as at June 30, 2012.

Corporate & Institutional Banking (Large Corporates) accounted for 64.3% of the Customer  Assets portfolio, Commercial Banking (Mid-sized Corporates) accounted for 18.6% and Retail Banking (including MSME) – 17.1%.

 Strong Net Interest Income (NII) Growth: NII for Q1FY14 increased by 39.6% y-o-y to Rs.659.1 crore from Rs. 472.2 crore in Q1FY13. This was on account of stable growth in advances and NIM expanding to 3.0% in Q1 FY14 from 2.8% last year.

 Diversified Non Interest Income streams display healthy growth: Non Interest Income grew by 53.4% y-o-y to Rs. 442.1 crore for Q1FY14 from Rs. 288.1 crore in Q1FY13. This was on the back of continued growth across all income streams – Financial Advisory, Transaction Banking, Financial Markets and Retail Banking Fees & Others, that showed firm traction  y-o-y.

 Strong growth in Operating & Net profit: Operating profit for Q1FY14 was up 47.9% to Rs.680.0 crore as compared to Rs.459.6 crore for Q1FY13 on the back healthy growth in Total Net Income. The Cost to Income ratio was 38.3% in Q1FY14. Net profit for Q1FY14 was up 38.1% to Rs.400.8 crore as compared to Rs.290.1 crore for Q1FY13.


*  *  *  E  N  D  *  *  *

No comments:

Post a Comment