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%
|
|
Shareholders‟Funds
|
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 Bank‟s 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.
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