Yes Bank - Q2FY14 Result First-Cut - Microsec

Yes Bank Ltd. announced its Q2FY14 result on 22nd October 2013.

Bank's total income increased by 1.55% QoQ and 39.62% YoY to INR1118.23 crores, driven by robust 61.19% and 28.23% YoY growth in its Other Income (OI) and Net Interest Income (NII) respectively. Whereas, Profit after Tax (PAT) decreased by 7.41% QoQ while, increased by 21.25% YoY to INR371.13 crores. During the quarter, Bank has increased its Provisions and Contingencies by 84.68% QoQ and 464.51% YoY to INR179.12 crores.

Bank's loan book and total deposits expanded by 13.56% and 29.23% YoY to INR47717.18 and INR67575.07 crores respectively. On the asset quality front, GNPA and NNPA increased by 6 and 1bps QoQ to 0.28% and 0.04% respectively. Bank has improved its low cost deposit (CASA ratio) by 20bps QoQ and 310bps YoY to 20.40%. Net Interest Margin (NIM) decreased by 10bps QoQ to 2.90%. However, Bank is in well position to tame any time liabilities with 85.30% of its Provision Coverage Ratio (PCR). Capital Adequacy Ratio (CAR) healthy stood at 13.80%.

During the quarter, the Bank has fully recognised depreciation of INR112.6 crores on its AFS/HFT bond portfolio (corporate & G-securities) instead of distributing the said amount over future quarters. It also transferred eligible SLR securities worth INR 94 crore from available for sale (AFS) category to held-to-maturity (HTM) category at book value with INR 0.33 crore of losses.

Source : Equity Bulls

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