Yes Bank
This private sector bank posted a good set of numbers for Q4 and Fy14. Both, profitability as well as asset quality improved. If HDFC Bank fell short of expectations, Yes Bank surpassed expectations. It reported a 19% (YoY) rise in net profit for the Q4 at Rs.430 crore. The main driver was NII, which rose 13% at Rs.720 crore and this was mainly on account of the 18% jump in advances. Other income was up 17%. Operating profit for Q4FY14 was up 7% at Rs.680 crore. The Cost to Income ratio was 41.6% in Q4FY14.
In terms of asset quality, Net NPA as a proportion of net advances fell 0.05%, down from 0.08% in Q3 and Gross NPA fell 0.31% compared to 0.39% in Q3. As at 31st March 2014, total restructured Advances stood at Rs.101 crore, which in Q3 was at Rs.107 crore. The Bank stated that this Q3, there was no fresh restructuring. Provisions and contingencies was at Rs.72 crore , up from Rs.13 crore in Q3 but down 28% on YoY. The bank's specific loan loss provision coverage was at 85.1% as at March 2014.
As per Basel III, Tier I Capital stood at 9.8% and total CRAR stood at 14.4% with CET I ratio at 9.1% as at March 31, 2014. Total Capital funds stood at ` 10,993.1 crore as at March 31, 2014.
For FY14, the Bank recorded a 24% rise in net profit at Rs.1618 crore with NII showing a growth of 22% at Rs.2716 crore. The YoY growth in CASA was at 29% while the CASA ratio improved to 22% from 18.9% in Fy13.
It added 43 branches during the quarter, taking the total branch count to 560 as on March 31, 2014 and employee tally was at 8798, up 25% (YoY).