Yes Bank

Private sector bank, Yes Bank posted a steady set of numbers for Q1FY17. On the back of a healthy growth in NII, up 24% (YoY) at Rs.1317 crore, the Bank ended the quarter with a 33% jump in net profit at Rs.732 crore. The increase in NII was helped by a 33% rise in advances at Rs.1,05,942 crore and CASA grew 63%, with CASA ratio improving from 23.4% to 29.6%.

In terms of asset quality, it was stable. Gross NPA came in marginally higher at 0.79% v/s 0.76% (QoQ) while Net NPA remained status quo at 0.29%. Its provision for bad debts showed a sharp jump of 111% (YoY) and 11% rise QoQ at Rs.207 crore. Provision coverage ratio increased from 62% to 64.2% (QoQ) though much lower than 71% on a YoY. During the quarter, there was no additional restructuring, no sale to ARCs and no refinancing under the 5:25 scheme. The total Standard Restructured Advances as a proportion of Gross Advances was at 0.49% (` 522.9 Crores) as at June 30, 2016, down from 0.71% (` 567.1 Crores) as at June 30, 2015.

Yes Bank’s branch network stood at 900 branches as on June 30, 2016, an addition of 40 branches in the quarter. The Bank has got approval from SEBI for mutual fund and asset management business and is to commence operations before July 2017.