Yes Bank

The private sector bank declared a fairly good set of numbers for Q3FY14. Profitability was much better than expected though NPAs showed a rise. Net profit for the quarter was up 21% (YoY) at Rs.416 crore and NII rose 14% at Rs.665 crore and NIM came in at 2.9%, unchanged from Q2. Total deposits during the quarter rose 21% (YoY) at Rs.68,060 crore and advances were at Rs.50,293 crore, up 15%. CAR was status quo at 13.8% (QoQ).

In terms of asset quality, Gross NPA, YoY doubled from 0.17% to 0.39% and rose 12 bps QoQ. Net NPA picture was better at 0.08% v/s 0.04% in Q2. Total restructured advances were at Rs.107 crore compared to Rs.189 crore in Q3FY13. The Bank stated that this Q3, there was no fresh restructuring. Provisions and contingencies was down from a whopping Rs.179 crore in Q2 and Rs.57 crore in Q3Fy14 to just a mere Rs.13 crore.