Yes Bank

This private sector bank yesterday hit a new 52-week high at Rs.418.50 and this was mainly on the back of very good Q2FY13 numbers posted by the bank. The market was especially enthused with the fact that Gross NPA fell to 0.24% from 0.28% on a YoY and net NPA fell to 0.05% from 0.06%. NII for Q2FY13 increased by  36% (YoY)  and this was due to sustained growth in advances & investments coupled with steady NIM of 2.9%, up from 2.8% in Q1FY13. Non Interest Income grew by 29% (YoY) at Rs. 277 crore. Net Profit was up 30% at Rs.306 crore.  

Bank’s specific provisioning cover was at 80.4% as at end of Q2FY13. Its total restructured advances (excluding NPAs)  stood at Rs.192 crore and this was 0.46% of gross advances. There were no new restructurings in this quarter. Total Advances grew by 23% and total deposits grew by 19%. Large corporates accounted for 67.4% of the portfolio while Commercial Banking accounted for 17.9% and  Retail Banking was at 14.7%. Savings Accounts deposits increased by 351.3% (YoY) and CASA grew by 86.7% (YoY). CASA Ratio improved to 17.3%. It added 19 branches across the country during the quarter, taking the total branch count to 400. Its employee strength currently stands at 6,307.