Yes Bank

Q4FY13 was like a repeat performance of Q3FY13 where a robust growth in non interest income (NII) and a healthy loan book helped the bank post much better profits. Its NII at Rs.638 crore was up 42% on a YoY and QoQ, it rose 9%. NIM at 3% was marginally up from 2.8% in Q4Fy12 and status quo as far as Q3FY13 is concerned. All this helped the bank end the quarter with a net profit at Rs.362 crore, up 33% on YoY and up 6% on QoQ. Its non Interest Income grew by 42% at Rs.379 crore and 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. As on March 31, 2013, total advances grew by 24% (YoY) at Rs 47,000 crore and total deposits rose 36% at Rs.66,956 crore.

CASA deposits grew by 71.6% (YoY) to Rs.12,687.5 crore , taking the CASA ratio to 18.9% as at March 31, 2013 up from 15.0% as of March 31, 2012. This is marginally up from 18.3% at end of Q3FY13. At end of Fy13, gross NPA was at 0.2% compared to 0.22% in Fy12 and net NPA was at 0.01% v/s 0.05%.  The Bank has increased its specific provisioning cover to 92.6% at end of Fy13 and has further added to the counter cyclical provisions during the quarter.

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 ba Total Restructured Advances (excluding NPA) stand at Rs.144.2 crore as at March 31, 2013. Tier I Capital stood at 9.5% and total CRAR stood at 18.3% as at March 31, 2013. Looking ahead, the bank is expected to improve its asset quality and margins are also estimated to be much better.