Yes Bank net profit for Q3 FY2015 rises 30% YoY to Rs. 540.3 Crore

India’s fourth largest private sector lender, YES Bank limited has reported a 30 percent increase in net profit to Rs. 540.3 Crore in the October-December quarter of financial year 2015, compare to Rs. 415.6 Crores in the same period last quarter.

Net Interest Income posted healthy growth of 36.6% y-o-y to Rs. 909.0 crore in Q3FY15 on back of steady growth in advances.

Operating profit for Q3 FY2015 was up 40.4% to Rs.862.7 crore driven by strong growth in Net Interest Income and Non Interest Income.

Yes Bank net profit for Q3 FY2015

Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “YES Bank has delivered another steady quarter with healthy growth in Net Profit of 30% driven by sustained increase in NII, expanding NIMs and stable asset quality. Further, the Bank continued its focus on building granularity in deposits demonstrated by Retail deposit contribution of 45.4% as on December 31, 2014. In FY2015, the Bank has so far raised US$ 500 Mn Equity through QIP and Long term Funding of US$ 422 Mn through Dual Currency Syndicated Facility and US$ 200 Mn from Asian Development Bank aggregating to approximately US$ 1.2 Bn. This reflects faith and trust reposed in YES BANK from a diverse set of global stakeholders.

He further added that, with an improving public policies and macroeconomic environment, YES BANK is well poised to capture growth as demonstrated by 32.4% growth in advances in this quarter, resulting in increasing market share in Indian Banking.”

Key Financial Highlights of Yes Bank for Q3 FY2015 – Rs. In Crores

Particulars Q3 FY2015 Q3 FY2014 Growth in percentage Q2 FY2015 Growth in percentage
Total Net Income 1445.8 1053.3 37.3 1362.0 6.2
Operating Profit 862.7 614.7 40.4 817.1 5.6
Profit After Tax 540.3 415.6 30.0 482.5 12.0
Basic EPS in INR 13.0 11.5 12.4 11.6 11.6
Deposits 82370.0 68059.9 21.0 80130.9 2.8
Advances 66606.9 50292.9 32.4 62029.6 7.4
CASA 18622.6 14246.1 30.7 18014.5 3.4

Total deposit of YES Bank has grew by 21% to Rs. 82370 Crore as at 31st December 2014. CASA deposits grew by 30.7% YoY to Rs. 18622.6 crore taking the CASA ratio to 22.6% as at December 31, 2014 up from 20.9% as at December 31, 2013.

Gross Non Performing Advances as a proportion of Gross Advances was at 0.42%, while Net Non Performing Advances as a proportion of Net advances was at 0.10% as at December 31, 2014. Bank’s specific loan loss Provision Coverage stood at 76.8% as at December 31, 2014.

Total Restructured Advances (excluding NPAs) stand at Rs. 170.7 crore as at December 31, 2014. This represents 0.26% of the Gross Advances against 0.21% (Rs. 107.2 crore) as at December 31, 2013.

YES BANK’s total branch and ATM network now stands at 600 branches and 1,156 ATMs. YES BANK added 83 branches over December 31, 2013.

Employee strength stood at 9,887 as on December 31, 2014 ; an increase of 1,242 employees over December 31, 2013.

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