Yes Bank jumps on robust quarterly numbers
DSIJ Intelligence / 26 Jul 2017
Yes Bank posted first quarter results for FY17-18 today. The Q1FY18 results were largely strong on the back of robust advances.
Yes Bank posted first quarter results for FY17-18 today. The Q1FY18 results were largely strong on the back of robust advances.
The bank's NII for the quarter increased 10 per cent QoQ to Rs 1809 crore in Q1FY18, as against Rs 1638 crore in Q4FY17. This was largely due to 7 per cent rise in interest earned and 5 per cent rise in interest expended.
The bank's gross NPA’s for the quarter declined 32 per cent to Rs 1364 crore in as against Rs.2018 crore in Q4FY17.
The bank decreased provisions for the quarter by 7.7 per cent QoQ to Rs 285 crore as against Rs.309 crore in Q1FY17. This led to 5.6 per cent rise in net profit for the quarter to Rs.965 crore in Q1FY18 as compared to Rs.731 crore in Q4FY17.
The total assets of the bank increased 25% to Rs.222,145 crore, driven by 32 per cent rise in advances and 22.6 per cent rise in deposits.
The bank's capital adequacy ratio (CAR) during the quarter was quite strong at 17.6 per (Basel III).
The stock of Yes Bank closed today at Rs 1712, up by 6.10 per cent after the results.
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