Yes Bank

The Bank posted very good numbers for Q3FY13. It posted a net profit at Rs.342 crore, up 35% on YoY, and this was on the back of back of expansion in NIMs & robust non-interest income. NII was at Rs.584 crore, up 37%. This was on account of a sustained growth in customer assets & expansion in NIM to 3% v/s 2.9% in Q2FY13. Non Interest Income grew by 48% YoY at Rs.313 crore, this was thanks to continued growth across the following fee income streams –Transaction Banking, Retail Banking Fees and Financial Advisory, that showed firm traction on YoY. Total Advances grew by 22.3% to Rs.43,857 crore  and total Deposits grew by 20.2% to Rs.56,400 crore. The Bank’s Total Assets grew by 22.4% to Rs.87,017.3 crore as at December 31, 2012.

CASA deposits grew by 75% YoY at Rs.10,341 crore taking the CASA ratio to 18.3% v/s 12.6% in Q3FY12. Gross NPA was at 0.17% v/s 0.2% while Net NPA was at 0.04% v/s 0.04%. Bank’s specific provisioning cover was at 79.6%. Total restructured advances (excluding NPAs) stand at Rs.189 crore which is 0.43% of the Gross Advances. Tier I Capital steady at 9.5% with strong internal accruals; Total Capital Adequacy at 18.0%. Its provisions against bad loans rose 79% at Rs.57 crore (QoQ). Looking ahead, the bank is expected to improve its asset quality and margins are also estimated to be better.