YES Bank Sees Another Strong Quarterly Performance
Vinaya Patil / 17 Apr 2013
As the March 2013 quarter has started on a good note for private banks, YES Bank has posted a strong financial performance for the March 2013 quarter too.
For the March quarter of 2013, YES Bank has posted a total income of Rs 1017.50 crore as against Rs 897.51 crore in December 2012 and Rs 714.85 crore in March 2012. The strong performance has been witnessed on the bottomline front also. For March 2013, it posted a bottomline of Rs 362.15 crore as compared to Rs 342.31 crore in December 2012 and Rs 271.80 crore March 2012. The higher profitability has been despite the higher provisions made by the company. For the March 2013 quarter, it made provisions amounting to Rs 97.53 crore as against Rs 56.68 crore in December 2012 and Rs 28.48 crore in March 2012.
The performance has been strong on the yearly basis also. Despite higher provisions for FY13, the bank has posted a strong bottomline of Rs 1300.68 crore against Rs 976.99 crore in FY12.
The performance has been strong on other fronts too. There has been strong growth on the advances as well as deposits front. While the advances stood at Rs 46999.60 crore (up by 23.70% YoY), the deposits have also increased by 36.20% to Rs 66955.60 crore.
Despite strong growth in advances, the asset quality has been maintained. Although the Gross NPAs increased marginally to Rs 94.32 crore from Rs 76.24 crore with higher provisioning, the net NPAs stood at negligible levels. The Gross NPAs stood at 0.20%, net NPAs stood at 0.01%. The bank is adequately capitalised with its CAR standing at 18.30%.
As regards the segmental performance, apart from the retail segment, all other segments have managed to put in strong financial performance. Treasury and Corporate Baking have been consistently performing well. There are some signs of improvement in the retail business as the segment’s losses for FY13 have declined to Rs 84.68 crore as against Rs 90.43 crore in FY12.
The net interest margins (NIMs) for March 2013 quarter stood at 3%, a significant increase from 2.80% in March 2012. On a whole year basis (FY13) too, the NIM stood at 2.90% as against 2.80% in FY12. On the valuation front, the scrip is trading at 2.96x of its book value. After the strong yearly and quarterly performance of YES Bank, we are still bullish on the stock and hence recommend a buy on the counter.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.