Yes Bank - Q3FY14 Result Update - Microsec Research

Yes Bank Ltd. announced its Q3FY14 result on 15th January 2014.

The Bank's total income decreased by 5.80% QoQ while increased by 17.36% YoY to INR1053.33 crores, driven by 13.88% and 23.85% YoY growth in its Net Interest Income (NII) and other income respectively. Whereas, Profit After Tax (PAT) increased by 11.98% QoQ and 21.41% YoY to INR415.60 crores. During the quarter, the Bank has reduced its provision by 92.58% QoQ and 76.55% YoY to INR13.29 crores, which has helped it to improve its bottom line.

The Bank's loans book and total deposits expanded by 14.68% and 20.67% YoY to INR50292.90 and INR68059.90 crores respectively. On the asset quality front, Gross NPA and Net NPA deteriorated by 11bps and 4bps QoQ to 0.39% and 0.08% respectively. However, the Bank has improved its low cost deposits base (CASA ratio) by 50bps QoQ and 260bps YoY to 20.90%. Net Interest Margin (NIM) stood at 2.90%. The Bank is well capitalized to support its growth trajectory with 13.80% of its Basel III Capital Adequacy Ratio (CAR). Provision Coverage Ratio (PCR) stood at 78.40%.

Source : Equity Bulls

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