Yes Bank announces good set of numbers in Q2

Yes Bank is an Indian private bank. Their line of business includes corporate and institutional banking, current account,financial markets, investment banking,corporate finance,branch banking, business and transactional banking, NRI banking and wealth management.

Today, YES BANK announced Financial Results for the Quarter ending September 30, 2015 wherein its Net Interest Income increased by 4.6 per cent to Rs 1108.5 crore against 1059.8 crore in the  previous quarter of same fiscal, on account of strong growth in advances and Retail & CASA deposits.

Non Interest Income rose by 13.4 per cent to Rs 618.1 crore Q-o-Q, supported by increased in Forex, Debt Capital Markets & Securities by 56 per cent, Corporate Banking Fees by 6.2 per cent and Retail Banking Fees 8.2 per cent on sequential basis. The Total Net Income of Yes Bank grew by 7.6 per cent to Rs 1726.6 per cent on quarterly basis.

The Operating Profit of the bank increased by 12.2 per cent to Rs 1019.1 crore in Q2FY16 against 908.3 crore in Q1FY16. The Net Profit of the Bank jumped by 10.7 per cent to Rs 610.4 crore compared Rs 551.2 crore on sequential basis. The Net Interest Margin was flat to 3.3 per cent on quarterly basis. The Gross NPA (Non Performing asset) is 0.61 per cent in Q2FY16 against 0.46 per cent in Q1FY16 to Rs 491.4 crore. Net NPA stood at 0.2 per cent from 0.13 per cent Q-o-Q basis to Rs 158.6 crore.

Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “YES Bank has delivered another consistent quarter of sustained financial performance reflected by healthy growth in Net Profit of 26.5 per cent and driven by steady increase in NII and stable asset quality, the Bank continues to build granularity in deposits demonstrated by Retail & CASA deposits contribution of 52.5 per cent as on September 30, 2015 on the back of healthy SA deposits growth and with CASA crossing 25 per cent for the first time since inception of the Bank 11 years ago.”

Also, the Bank announced that YES Bank is the first bank to have launched its operations at the IBU branch in the IFSC, GIFT city at Gandhinagar, Gujarat. This along with the recent RBI licensing approvals for setting up AMC operations and commencement of PD business which will further increase the value proposition for corporate as well as retail customers.

The FII holdings of Yes Bank had reduced by 316 basis points to 41.26 per cent, DII holdings increased by 188 basis points to 23.17 per cent. Today, after a good result announcement Yes Bank is trading at Rs 743.5, around 2 per cent higher on BSE.