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Yes Bank Results: Latest Quarterly Results & Analysis

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YES Bank Ltd. 21 Jul 2025 11:24 AM
Result PDF

Q1FY26 Quarterly Result Announced for YES Bank Ltd.

YES Bank announced Q1FY26 results

  • Q1FY26 NII at Rs 2,371 crore up 5.7% YoY and 4.2% QoQ aided by reduction in Cost of Funds.
  • NIM for Q1FY26 at 2.5% trending upward YoY, supported by reduction in deposits made in lieu of PSL shortfall and SA rate cut reduction, partially offset by repricing impact.
  • Non-Interest Income at Rs 1,752 crore, up 46.1% YoY (aided by Treasury Income) and 0.7% QoQ.
  • Operating Costs at Rs 2,766 crore up 8.1% YoY and 2.4% QoQ. Excl. PSLC cost, Opex up 5.7% YoY and 1.3 % QoQ.
  • Provision Costs (Non-Tax) at Rs 284 crore for Q1FY26 up ~34% YoY but lower 10.7% QoQ.
  • Operating Profit for Q1FY26 at Rs 1,358 crore up 53.4% YoY & 3.3% QoQ.
  • Net Profit for Q1FY26 at Rs 801 crore up 59.4% YoY & 8.5% QoQ.
  • Q1FY26 RoA at 0.8% v/s 0.5% in Q1FY25 & 0.7% in Q4FY25.
  • Net Advances at Rs 2,41,024 Cr, registered growth of 5.0% YoY.
    • Granular/ Diversified loan book – Cumulative Share of Retail Banking Segment & Commercial Banking Segment at ~74%.
    • Micro Enterprise Banking segment which is now part of Retail Banking Segment up 11.2% YoY.
    • Commercial Banking Advances up 19.0%.
  • C/D ratio at 87.4% v/s 86.5% in Q4FY25 and 86.6% in Q1FY25.
  • Total Deposits at Rs 275,843 Cr grew 4.1% YoY, with continued focus on granular, low-cost deposits with healthy CASA Ratio.
    • CASA Ratio at 32.8% v/s 30.8% in Q1FY25 up 200bps.
    • Retail CASA Accounts opened: ~251K in Q1FY26.
    • Retail and Small Business Deposits (Gross LCR Definition) grew 9% YoY.
    • CASA Retail TDs at 65.5% v/s 64.4% in Q4FY25 v/s 57.6% in Q1FY25.
  • Average Quarterly LCR during the quarter remains healthy at 135.8%; LCR as on June 30, 2025 at 129.7%.
  • CET I Ratio further improved to ~14.0% v/s 13.3% in Q1FY25 and 13.5% in Q4FY25.
    • RWA to Total Assets at 72.7% v/s 71.3 % in Q4FY25 and 70.3% in Q1FY25.
  • Deposits made in lieu of prior period PSL shortfalls at Rs 36,799 crore - lower ~16% YoY; correspondingly Borrowings down 16.9% YoY.
  • GNPA Ratio at 1.6% in Q1FY26 flat QoQ and down 10 bps YoY.
  • NNPA Ratio at 0.3% in Q1FY26 flat QoQ and down 20 bps YoY.
  • PCR at 80.2% in Q1FY26 v/s 79.7% in Q4FY25 and 67.6% in Q1FY25.
  • Gross Slippages for Q1FY26 at Rs 1,458 crore (2.4% of Advances) v/s Rs 1,223 crore (2.0% of Advances) in Q4FY25.
    • Slippages Net of Recoveries and Upgrades in Q1FY26 at Rs 805 crore v/s Rs 696 crore last quarter.
    • Gross Slippages (excl Slipped and Recovered in the same quarter) for Q1FY26 at Rs 1,309 crore (2.2% of Advances) v/s Rs 1,161 crore (1.9% of Advances) in Q4FY25.
  • Resolution momentum continues to be strong with Total Recoveries & Upgrades for Q1FY26 at Rs 1,170 crore.

Prashant Kumar, Managing Director & CEO, YES BANK said: “The Bank entered the new financial year on a strong footing and delivered a robust performance with net profit rising to Rs 801 crore, marking a 59.4% YoY growth. Key metrics such as RoA (0.8%), PPoP (Rs 1,358 crore), and NIM (2.5%) showed notable improvement. Asset quality remained stable, CASA witnessed healthy growth, and CET1 strengthened to 14.0%.

Other key highlights of the quarter were i) Credit rating upgrades from Moody’s, ICRA, and CARE underscore the Bank’s solid fundamentals and accelerating growth momentum ii) Sumitomo Mitsui Corporation Bank (SMBC) entered into definitive agreement to acquire ~20% equity stake in YESBANK from SBI & Other Banks.

Result PDF

Result PDF

YES Bank announced Q4FY25 & FY25 results

  • FY25 Net Profit at Rs 2,406 crore up 92.3% YoY. Net Profit for Q4FY25 at Rs 738 crore up 63.3% YoY & 20.6% QoQ.
    • NIM for Q4FY25 at 2.5% trending upward QoQ. NIM for FY25 stable at 2.4%.
    • Non-Interest Income for FY25 at Rs 5,857 crore up 14.5% YoY.
    • NIL shortfalls in PSL Compliance in FY25; Mandated deposits in lieu of PSL Shortfalls reduced to 8.7% as of FY25 from ~11% of Total Assets as at Mar’24.
    • Q4FY25 Cost-to-income Ratio Sequentially lower for fourth successive quarter at 67.3% v/s. 75.8% (Q4FY24) and 71.1% (Q3FY25).
    • Q4FY25 RoA at 0.7% v/s. 0.5% in Q4FY24 & 0.6% in Q3FY25. FY25 RoA at 0.6% v/s. 0.3% in FY24.
  • Balance Sheet momentum sustains with effective execution in line with strategic objectives.
    • Sustained Deposit accretion (up 6.8% YoY and 2.6% QoQ) and improvement in CASA Ratio (up 120 bps QoQ and 340 bps YoY) to 34.3%.
    • Net Advances Growth at 8.1% YoY & 0.6% QoQ aided by strong growth momentum in SME and Mid Corporate Advances (at 23.6% & 21.8% YoY respectively).
    • AYB2 Deposits grew 16.0% YoY; Stronger YoY growth in CA Deposits at 20.5% and SA Deposits at 32.1%.
    • Retail & Branch Banking led Deposits growth at 17.9% YoY and 3.2% QoQ.
  • Significant improvement in Asset Quality metrics, Provision Coverage Ratio; Fresh Slippages Improving Sequentially GNPA at 1.6%, NNPA at 0.3%, PCR improved to 79.7%
  • Resolution momentum continues to be strong with Total recoveries and upgrades at Rs 1,480 crore 1 in Q4FY25 and Rs 5,923 crore 1 in FY25.
  • Restructured advances lowest ever at Rs 424 crore (0.2% of Advances).
  • Net Carrying Value of Security Receipts – NIL.
  • YES BANK gets authorized by Government of India for Direct and Indirect Taxes Collection - Goes live with seamless GST payment facility for customers as well as non-customers.
  • S&P Global and CDP rated YES BANK highest- amongst Indian Banks for ESG and climate disclosures - 3rd Year in a row.

Prashant Kumar, Managing Director & CEO, YES BANK, said: “The Q4FY25 marked yet another important quarter for YES BANK as it continued to make steady improvements across several key metrics and progressed well on the strategic objective of improving its profitability. The Bank exited the year with quarterly RoA of 0.7%, b) achieved 100% PSL compliance, c) further improved its Gross NPA and Net NPA ratios to 1.6% and 0.3% respectively – lowest levels since Mar’20, d) Brought down the net carrying value of Security Receipts to ‘NIL’ and e) Furthered expanded the CASA ratio by 340 bps YoY to 34.3% in FY25.

YES BANK’s core franchise has gained significant momentum and is quite well placed to continue to thrive. The Bank remains disciplined and focused on its execution with its strategy and actions remain fully anchored around further improving its Positioning and Profitability.By going live with seamless collection facility for GST, the Bank added another important solution for its existing as well as prospective customers and augmented its Digital and Tech Capabilities. Highest ratings by S&P and CDP reaffirmed our commitment to responsible banking”.

Result PDF

YES Bank announced Q3FY25 results

  • Net Profit for Q3FY25 at Rs 612 crore at 2.6x of Q3FY24 Net Profits and up 10.7% QoQ.
    • Operating Profit at Rs 1,079 crore up 24.9% YoY and 10.6% QoQ.
    • NII at Rs 2,224 crore for Q3FY25 up 10.2% YoY; NIMs at 2.4% flat YoY and QoQ.
    • Non-Interest Income for Q3FY25 at Rs 1,512 crore up 26.6% YoY and 7.5% QoQ.
    • Operating Expenses grew 13.2% YoY and only 0.9% QoQ.
    • Cost-to-Income Ratio sequentially lower for second consecutive quarter at 71.1% v/s. 73.1% (Q3FY24) and 73.0% (Q2FY25).
    • RoA for Q3FY25 at 0.6% v/s. 0.2% in Q3FY24 & 0.5% in Q2FY25.
  • Balance Sheet momentum sustains with effective execution in line with strategic objectives.
    • Sustained momentum in Deposit accretion with focus on CASA Ratio expansion and Retail & Branch Banking led Deposits o Average Deposit balances up 15.7% YoY and 2.3% QoQ.
      • Retail & Branch Banking led Deposits growth at 21.8% YoY and 5.3% QoQ.
      • CASA Ratio at 33.1% up 340 bps YoY and 110 bps QoQ.
      • CA growth at 21.1% YoY, with avg. CA Balances growing 22.1% YoY.
      • SA growth at 33.3% YoY & 9.2% QoQ, with avg. SA growth at 32.1% YoY & 9.0% QoQ.
    • Net Advances Growth at 12.6% YoY aided by.
      • Sustained growth momentum in SME (up 26.7% YoY).
      • Mid Corporate Advances up 26.7% YoY.
      • Corporate Advances up 26.8% YoY and 7.5% QoQ.
      • Retail Advances growth flattish QoQ, in line with strategy to improve profitability.
    • NIL PSL shortfall for Q3FY25 across overall requirement and sub-categories.
    • Reduction in balances of mandated deposits in lieu of PSL Shortfalls from 10.4% of Assets as of Q2FY25 to 8.5% as of Q3FY25- in line with earlier guidance.
  • Sustained improvement in Asset Quality metrics: GNPA ratio lower YoY, PCR at 71.2%.
    • (NNPA net carrying value of SRs) as % of Net Advances significantly lower on YoY & QoQ basis at 0.6% in Q3FY25 v/s. 1.7% in Q3FY24 and 0.9% in Q2FY25.
    • Resolution momentum sustains with recoveries and resolutions at Rs 1,843 Crs1 in Q3FY25, cumulative recoveries and resolutions in 9MFY25 at Rs 4,443 crore.
    • Fresh Slippages for Q3FY25 in Retail Segment flat on QoQ basis.

Prashant Kumar, Managing Director & CEO, YES BANK, said: “Q3FY25 is the fifth quarter in a row where the Bank has demonstrated sustained sequential expansion in profitability. The RoA of the Bank has also expanded to 0.6% from 0.5%, reported over the last 3 quarters. It is quite encouraging that we have also started seeing expansion in our Operating Profitability. Two distinct trends which I think are important to highlight in terms of trajectory of the Bank’s profitability going forward are, 1) reduction in balances of deposits placed in lieu of PSL shortfalls to 8.5% of Assets this quarter, from 10.4% of Assets in Q2FY25, and 2) fresh slippages in Retail Segment remaining flat on QoQ basis. Both of these are in line with our earlier guidance, and while one of the factors is likely to aid expansion in Net Interest Margins and Operating Profits, the other may likely result in reduction of gross credit costs.

Other key vectors of the Bank continue to post encouraging trends in line with our strategic objectives. The Deposits momentum sustained with around 15% YoY growth, wherein the Avg. Balances recorded a higher 15.7% YoY and 2.3% QoQ growth. Outperformance to Industry continued on CASA acquisition, with CA and SA deposits growing 21.1% YoY and 33.3% YoY respectively and the Avg. balances recording a similar growth. On the Advances front, SME and Mid Corporate segments maintained 25% YoY growth trajectory, while strategic reorientation continued in the Retail segment, aimed at profitability improvement. Q3FY25 was another strong quarter of Fee Income performance, aided by the granular and transactional fee streams. Asset Quality also further improved with (NNPA Net Carrying Value of SRs) now at 0.6%.”

Result PDF

YES Bank announced Q2FY25 results

  • Net Profit for Q2FY25 at Rs 553 crore up 145.6% YoY & 10.1% QoQ
    • Operating Profit at Rs 975 crore up 21.7% YoY and 10.2% QoQ
    • NII at Rs 2,200 crore for Q2FY25 up 14.3% YoY; NIMs stable QoQ at 2.4%
    • Non-Interest Income for Q2FY25 at Rs 1,407 crore up 16.3% YoY and 17.3% QoQ
    • Operating Expenses grew 12.8% YoY and 2.9% QoQ
    • Cost-to-Income Ratio lower at 73.0% v/s. 74.4% (Q2FY24) and 74.3% (Q1FY25)
    • RoA for Q2FY25 at 0.5% v/s. 0.2% in Q2FY24 & 0.5% in Q1FY25
  • Balance Sheet momentum sustains with effective execution in line with strategic objectives
    • Sustained momentum in Deposit accretion (up 18.3% YoY and 4.6% QoQ)
    • Strong expansion in CASA Ratio at 32.0% up 260 bps YoY and 120 bps QoQ
    • Net Advances Growth at 12.4% YoY aided by
      • Sustained growth momentum in SME (up 25.8% YoY),
      • Mid Corporate Advances (up 25.5% YoY), and
      • Corporate Advances up 21.8% YoY and 4.6% QoQ
      • Retail Advances growth flattish, in line with strategy to improve profitability
    • NIL PSL shortfall for Q2FY25 across overall requirement and sub-categories, through combination of further step up in organic balances and PSLC purchases
  • Sustained improvement in Asset Quality metrics: GNPA ratio down QoQ, PCR at 70.0%
    • GNPA ratio lower on both YoY & QoQ basis at 1.6% v/s. 2.0% in Q2FY24 & 1.7% in Q1FY25
    • (NNPA net carrying value of SR) as % of Advances has more than halved on YoY basis at 0.9% in Q2FY25 v/s. 2.0% in Q2FY24; remains stable on QoQ basis
    • NPA Provision Coverage Ratio (PCR) at 70.0% v/s. 56.4% in Q2FY24 and 67.6% in Q1FY25
    • Resolution momentum sustains with recoveries and resolutions at Rs 1,021 crore in Q2FY25
    • Std. Restructured accounts amounted to Rs 2,125 crore (0.9% of Advances) down from 2.2% of Advances in Q2FY24 & 1.6% in Q1FY25. QoQ reduction led by resolutions/ upgrades.
  • Credit Rating Upgrades from CRISIL and CARE: Bank’s Basel III Tier II Bonds and Infrastructure Bonds ratings upgraded to A from A

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES Bank said, “Q2FY25 performance has been encouraging, esp. if seen in the context of Industry headwinds. Deposit momentum has been maintained with 18% YoY growth, along with healthy CASA ratio (now at 32%) expansion on both YoY & QoQ basis, on the back of CA growth at 26% YoY & 11% QoQ and SA growth at 30% YoY & 7% QoQ. At same time, the slippage ratio (at 2.2% of Advances) remains range-bound within the guidance range. Other Asset Quality parameters such as GNPA ratio, PCR and O/S Restructured loans have all improved on QoQ basis. The Bank continues to deliver as per the stated strategic objectives, with superior growth in SME and Mid Corporate segments, growth resumption in the Corporate segment and calibration of growth in Retail segment, aimed at profitability improvement. Bank also continues to maintain NIL PSL shortfalls. These along with other drivers have enabled the Bank to deliver healthy Operating Profit and Net profit growth. The RoA of the Bank has been consistently at 0.5% over last 3 quarters. The Bank has also strengthened its management team with key senior hires in Retail Assets and Financial Markets Team. We have received external validation in the form of Credit Rating upgrades over the last 2 quarters. While we navigate the challenges in the operating environment, we remain confident of our progress towards building a franchise which delivers superior returns to our stakeholders.”

Result PDF

YES Bank announced Q1FY25 results:

  • Net Profit for Q1FY25 at Rs 502 crore up 46.7% YoY & 11.2% QoQ
  • NIMs for Q1FY25 steady QoQ at 2.4%
  • Non-Interest Income for Q1FY25 at Rs 1,199 crore. Normalised growth at 20.5% YoY
  • NIL PSL shortfall for Q1FY25 across overall requirement and sub-categories, through combination of further step up in organic balances and PSLC purchases
  • Net Provision Costs lower by 41.2% YoY & 55.0% QoQ
  • RoA for Q1FY25 at 0.5% v/s. 0.4% in Q1FY24 & 0.5% in Q4FY24
  • Robust Deposit accretion (up 20.8% YoY)
  • CASA Ratio flattish QoQ at 30.8% despite Q1 seasonality
  • Net Advances Growth at 14.7% YoY aided by:
    • Sustained growth momentum in SME (at 23.8% YoY),
    • Mid Corporate Advances (at 25.0% YoY), and
    • Resumption of growth in Corporate segment (13.8% YoY growth)
  • GNPA at 1.7%, NNPA at 0.5%, PCR at 67.6% (up 100 bps QoQ)
  • (NNPA net carrying value of SR) as % of Advances continued to improve to 0.9% in Q1FY25 v/s. 2.4% in Q1FY24 and 1.1% in Q4FY24
  • Strong Resolution momentum with recoveries/ resolutions at Rs 1,581 crore in Q1FY25
  • During the quarter both CA Basque Investments and Verventa Holding Ltd. have exercised the outstanding Warrants- the proceeds resulting in 100 bps accretion to CET I%
  • Global Rating Agency Moody’s Upgraded the Rating Outlook to “Positive” from “Stable” in July 2024. ICRA has also upgraded the Credit Rating on Bank’s instruments from A- to A

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES BANK said, “The Bank has started the financial year on a strong footing with RoA sustaining QoQ at 0.5% despite seasonality of Q1 and NIL PSL shortfalls. While the Income Engines are continuing to fire with normalised Net Income Growth at 15% YoY, the Bank has been able to contain the Operating Cost growth at 8.0% YoY (exPSLCs). At the same time, the resolution momentum continues to be strong, leading to lower Net Credit Costs, which is also aiding in RoA expansion.

On the Balance Sheet front, the Bank is effectively executing its strategic objectives of sustained momentum in SME and Mid- Corporate segments, resumption of growth in Corporate segment and calibration in Retail Assets with focus on profitability. Similarly, the Retail and Branch Banking led Deposits continue to grow at faster pace than Wholesale Deposits.

Other key highlights of the quarter were i) exercise of outstanding Warrants by the Private Equity Investors, and ii) Credit Rating Outlook upgrade by Moody’s and Credit Rating upgrade by ICRA- these external stakeholder validations reinforce faith & confidence in the growth and profitability expansion trajectory of the franchise.”

Result PDF

YES Bank announced Q4FY24 & FY24 results:

  • Net Profit for Q4FY24 stands at Rs 452 crore, up 123.2% YoY and 95.2% QoQ. For FY24, Net Profit is at Rs 1,251 crore, up 74.4% YoY.
    • Net Interest Margins (NIMs) for Q4FY24 remain steady QoQ at 2.4%.
    • Non-Interest Income experiences strong momentum with diverse fee streams: Q4FY24 up 56.3% YoY and 31.3% QoQ. FY24 Non-Interest Income up 38.8% YoY.
    • Negligible Priority Sector Lending (PSL) shortfall for FY24 through a combination of organic balance increases and PSL Certificate (PSLC) purchases, ensuring compliance with Small and Marginal Farmers (SMF) and Weaker Section requirements.
    • Net Provision Costs decrease (down 23.8% YoY for Q4FY24 and 15.0% YoY for FY24).
    • Return on Assets (RoA) for Q4FY24 at 0.5% compared to 0.2% in Q3FY24 & Q4FY23.
    • Non-Core/One-off gains utilized for further improving Asset Quality metrics and Provision Coverage Ratio.
  • Balance Sheet crosses Rs 4 lakh crore during the Quarter.
    • Robust Deposit accretion (up 22.5% YoY and 10.1% QoQ) and improvement in Current Account Savings Account (CASA) Ratio to 30.9%.
    • Net Advances Growth (excluding reverse repo) at 13.8% YoY, supported by sustained growth in Small and Medium Enterprises (SME) and Mid Corporate Advances (25% YoY) and resumption of growth in the Corporate segment.
  • Asset Quality metrics continue to improve: Gross Non-Performing Assets (GNPA) at 1.7%, Net Non-Performing Assets (NNPA) at 0.6%, and Provision Coverage Ratio (PCR) at 66.6%. GNPA and NNPA Ratio each down 30 bps QoQ, while PCR up 10 percentage points.
    • Strong Resolution momentum with recoveries and resolutions at Rs 2,092 crore in Q4FY24 and Rs 5,978 crore in FY24.
    • 60 bps QoQ reduction in (NNPA net carrying value of Security Receipts) % to 1.1% of Advances
  • PayTM Partnership expands service offerings to existing and new Consumers and Merchants, as well as settlement services.
  • Post March 31, 2024, CA Basque Investments (affiliate of the Carlyle Group) exercises its Warrants, increasing CET-I% to 12.7%.
  • Principal sponsor - Indian Olympic Association (IOA) for Paris Olympics 2024, serving as their Official Banking Partner for Team India.

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES Bank said, “This quarter demonstrates a significant step in the RoA expansion journey, with Q4FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries and ARC Sale, being prudently utilized for strengthening the Asset Quality metrics- for instance, the NNPA Net Carrying value of SRs have more than halved over the course of the year to 1.1% from 2.4% in FY23.

Moreover, we continue to witness strong momentum in our liability franchise with growth in Deposits expanding to over 20% YoY for first time in last 8 quarters. Importantly, despite challenging environment during the course of the year, our CASA ratio has expanded 10 bps YoY to 30.9%. This quarter, the Bank continued to expand on its digital footprint with significant partnerships reflecting the inherent strength in the capabilities and technology infrastructure of the Bank. As the Bank embarks on the fifth year of this new journey, we remain focused on diligently executing the RoA expansion roadmap.”

 

Result PDF

YES Bank announced Q3FY24 results:

  • Net Profit for Q3FY24 reached Rs 231 crore, reflecting a 349.2% YoY growth and a 2.8% QoQ increase.
  • NIMs expanded QoQ, attributed to efficient Balance Sheet Management, despite facing challenges in Deposits and Funding Costs.
  • Momentum in Core Non-Interest Income sustained across diverse and granular fee streams, contributing to overall financial strength.
  • Continued cost efficiencies were observed, with the second successive quarter experiencing less than 1% QoQ rise in Operating Expenses.
  • Provision Costs remained flattish QoQ at 0.6%1 of Assets, despite 0.5% aging-related provisions on Security Receipts during the quarter.
  • The Balance Sheet exhibited robust growth momentum with continued enhancement in granularity.
  • Robust Deposit accretion and QoQ improvement in CASA (Current Account and Savings Account) Ratio were achieved, overcoming industry-wide challenges.
  • Acceleration in SME Advances growth and sustained momentum in the Corporate segment were notable highlights.
  • Stability and sustained improvement in Asset Quality parameters were observed, with a 30 bps QoQ reduction in (NNPA net carrying value of SR)% to 1.7%.
  • Resolution momentum remained strong, with Total Recoveries & Upgrades for Q3FY24 reaching Rs 1,316 crore. YTD FY24 cumulative recoveries and upgrades amounted to Rs 3,869 crore.
  • The stock was included in both BSE Next 50 and BSE 100 Indices, reflecting its significant market presence.
  • Recognized as the top Indian Bank with the highest S&P Global ESG Score in 2023, showcasing commitment to Environmental, Social, and Governance principles.

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES Bank said, “Over the last few quarters, we have remained focussed on executing our profitability improvement roadmap by leveraging our core and key business levers of 1) retail asset mix optimization, 2) our SME and Mid-Market strong value proposition, 3) fully exploiting our Branches as the key fulcrum of our Business, and 4) leveraging our Digital and Transaction Banking capabilities and partnerships and, lastly 5) fully sweating our Branches as the fulcrum of the business to drive higher cross-sell and lower our costs going forward. This is driven alongside a focused Priority Sector Lending (PSL) strategy.

The early progress of the above has started to reflect through several underlying business vectors which we have reported this quarter. Aside from that, Q3FY24 overall was a good quarter for us with deposit growth outpacing advance growth, sequential improvement in CASA ratio, and Net Interest Margins. We continued to maintain a healthy Liquidity Coverage Ratio (LCR) ratio. The value of Net NPA and net carrying value of Security Receipts (SR) reduced by 30 bps point and our profits saw a ~3.5x fold increase compared to Q3FY23.”

 

Result PDF

Yes Bank announced Q2FY24 & H1FY24 results:

  • Net Profit for Q2FY24 at Rs 225 crore grows 47.4% YoY
    • Non-interest income at Rs 1,210 crore, up 38.4% YoY and 6.0% QoQ
    • Provision Costs (non-tax) down 14.1% YoY
  • Advances growth at 11.2% YoY (adjusted for ARC transaction)
    • Retail Advances crossed Rs 1 lakh crore during the quarter, up 27.2% YoY
    • SME Advances crossed Rs 30,000 crore during the quarter up 25.0% YoY
    • Mid Corporate Segment Advances up 26.7% YoY
    • New Disbursements of over Rs 28,000 crore in Q2FY24
  • Deposits grew 17.2% YoY and 6.8% QoQ
    • CASA Ratio stable QoQ at 29.4% despite challenging environment
    • 3.91 lakh CASA Accounts opened during the quarter
  • All-around improvement in Asset Quality parameters
    • GNPA ratio at 2.0% vs. 12.9% in Q2FY23 and flat QoQ
    • NNPA ratio lower at 0.9% v/s. 3.6% last year and 1.0% last quarter
    • Net carrying value of SRs as % of Advances at 1.1% in Q2FY24 vs. 1.3% last quarter
    • Provision Coverage Ratio (PCR) at 56.4% v/s. 48.4% last quarter. Including Technical W/O, and PCR at 72.1% v/s. 67.8%
    • Resolution Momentum strong with Total Recoveries & Upgrades for Q2FY24 at Rs 1,352 crore. H1FY24 cumulative recoveries and upgrades at Rs 2,553 crore.

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES BANK said, “The Bank’s Q2FY24 performance is a testament to the strength of the core franchise that the Bank has built through significant strategic interventions during the last three years. Amidst a challenging environment with respect to interest rates, deposit growth slowdown, as well as tightening liquidity, the Bank has managed to deliver YoY expansion in both operating profitability and net profitability. At the same time, the fortification of Balance Sheet from Asset Quality standpoint continues, supported by robust redemptions from the Security Receipts.

The Bank has also been consistently putting together the key pieces of the puzzle as it accelerates along its path of profitability expansion. Few such highlights during the quarter included the launch of our next gen mobile banking app ‘iris by YES BANK’, setup of a dedicated Strategy & Transformation Office; and further strengthening of our Management Team through two key senior level appointments - Head of Wholesale Banking and Head of Strategy & Transformation.”

 

Result PDF

YES Bank announced Q1FY24 results:

  • Net Profit at Rs 343 crore up 10.3% YoY and 69.2% QoQ
  • NII at Rs 2,000 crore for Q1FY24 up 8.1% YoY
  • NIM at 2.5% up 10 bps YoY
  • Non-Interest Income at Rs 1,141 crore, up 54.0% YoY and 13.7% QoQ
  • Advances growth at 10.0% YoY (adj. for ARC transaction); Retail Advances up 31.3% YoY, SME up 24.1% YoY & Mid Corp. Segment up 28.9% YoY
  • New Sanctions / Disbursement of Rs 24,730 crore in Q1FY24
  • 355k CASA Accounts opened during the quarter
  • GNPA ratio at 2.0% vs. 13.4% in Q1FY23 and 2.2% in Q4FY23
  • (NNPA Net Carrying Value of SR) ratio at 2.4% Q1FY24 flat QoQ
  • Resolution Momentum continues to be strong with Total Recoveries & Upgrades for Q1FY24 at Rs 1,201 crore
  • CET 1 Ratio at 13.6%1 v/s. 11.9% in Q1FY23 and 13.3% in Q4FY23

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES Bank said, “Q1FY24 was a steady quarter where we have demonstrated significant progress in line with our Strategic Objectives. While the Balance Sheet granularity momentum continued, we also delivered strong growth in our Fee Income while containing our Operating and Credit Costs. With the focus of the Bank now firmly aligned towards improving the profitability of the franchise, over the coming quarters, we will continue to work on levers that further accelerate this momentum such as improvement in NIMs and CASA Ratio, reducing the drag from legacy PSL requirements, cross-sell and product penetration into our fast expanding customer base, while continuing to maintain strict controls over costs.

A key highlight during the quarter was the launch of our refreshed brand identity. With a strong foundation firmly in place, it was the opportune time to make the next strategic move of reimagining the YES BANK brand. As part of the refreshed identity, a vibrant new logo has been launched which carries forward the visual DNA of the Bank and builds on it. This has been accompanied by an integrated 360-degree campaign with the positioning - ‘Life Ko Banao Rich’ that resonates with the evolving needs and aspirations of our customers. The initial feedback to this campaign has been extremely positive, and we believe that this will not only instill enthusiasm and confidence among our stakeholders but also enhance the pace of our new customer acquisition.”

 

Result PDF

Yes Bank announced Q4FY23 results:

  • Q4FY23 profits at Rs 202 crore despite accelerated provisioning, three times higher than Q3FY23 profits
  • Q4FY23 NII at Rs 2,105 crore, up 15.7% YoY and 6.8% QoQ. FY23 NII at Rs 7,918 crore up 21.8% YoY
  • Normalised operating profits for FY23 up 22.6% YoY
  • NIM for Q4FY23 at 2.8% up 30 bps on YoY and QoQ. FY23 NIM at 2.6% up 30 bps YoY
  • CASA ratio at 30.8% up 90 bps QoQ; avg. CASA deposits for FY23 are up 26.3% YoY, aided by 30.4% YoY growth on avg. CA deposits
  • Advances growth at 13.2% YoY (excluding ARC transaction and Reverse Repo); retail advances up 38.6% YoY, SME up 22.3% YoY & mid corp. segments up 35.8% YoY
  • New sanctions/disbursement of ~Rs 1 lakh crore in FY23
  • 13.4 lakh CASA accounts opened in FY23 vs 11.4 lakh in FY22
  • GNPA ratio at 2.2% vs 13.9% last year and 2.0% last quarter
  • NNPA ratio at 0.8% vs 4.5% in FY22 and 1.0% last quarter
  • Resolution momentum continues to be strong with total recoveries & upgrades for FY23 at Rs 6,120 crore - well ahead of guidance of Rs 5,000 crore
  • Organic accretion in capital during the quarter - CET 1 at 13.3% vs 13.0% in Q3; CRAR at 17.9% and RWA to total assets at 69.1% vs 72.8% in FY22 and 70.9% last quarter

Commenting on the results and financial performance, Prashant Kumar, MD & CEO, YES BANK, said, “Over the last three years, the bank has significantly progressed on several strategic objectives such as strengthening of Governance and Compliance Standards, bolstering the balance sheet through granularity, addressing the asset quality concerns, building up a strong liability franchise and expanding the customer base. At the same time,- with a continuous focus on retail, we have continued to expand our footprints with new branches, increased the employee headcount and stepped-up our investments in technology. Our retail franchise has now reached a critical scale and is poised for profitable growth. With the current momentum of accelerated growth, the efficiency gains and operating leverage will naturally drive the bank’s profitability upwards. In addition to this, in order to further accelerate the profitability expansion, the bank will be making strategic interventions in the form of calibrated yield enhancement, higher focus on growth in CA and improvement in cross-sell/fee growth on the expanded customer base. Moreover, significant recoveries and upgrades during the year and particularly Q4 have been utilized for accelerated provisioning to step up PCR and normalize credit costs over the near term.”

 

Result PDF

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