YES BANK ANNOUNCES FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30,2022

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YES BANK
Key Highlights
Operating Profits at INR 790 Crs in Q2FY23 grew 17% Y-o-Y: highest in last 7 quarters • NIMs at 2.6% up 40 bps Y-o-Y and 20 bps Q-o-Q • Cost to Income ratio improved to 72.8% from 77.6% in Q1FY23 • Net Profits at INR 153 Crs– largely impacted due to ageing related provisioning  requirement during Q2FY23  ▪ Advances grew 11% Y-o-Y, Deposits growth at 13% Y-o-Y; Balance Sheet up 16% Y-o-Y Retail & SME: Mid Corp.: Corporate Mix improved to 54:12:34 from 51:11:38 in Q1FY23 • Retail and SME advances cross INR 1,00,000 Crs and Home loans cross INR 10,000 Crs CASA ratio at 31.0% vs. 30.8% in Q1FY23, avg. CASA improved by 32.4% Y-o-Y Improving Asset Quality: NNPA ratio below 4% for the first time since Sep-19 GNPA ratio at 12.9% vs. 15.0% in Q2FY22 and 13.4% in Q1FY23 • NNPA ratio at 3.6% vs. 5.5% in Q2FY22 and 4.2% in Q1FY23 • Slippages lower at INR 896 Crs vs. INR 1,783 Crs in Q2FY22 and INR 1,072 Crs in Q1FY23 • Resolution Momentum continues with Total Recoveries & Upgrades for Q2FY23 at  INR 1,586 Crs– well on track to achieve the FY23 guidance of INR 5,000 Crs ▪ The Board & Shareholders approved a capital raise1 of nearly INR 8,900 Crs via pref. issue to two Global Private Equity Investors- Carlyle and Advent International  ▪ The Board approved JC Flowers ARC as winner of Swiss Challenge process; expected  closure in Q3FY23– transaction set to be largest sale of stressed assets deal in India ▪ Received RBI approval for appointments2 of R Gandhi as Non – Executive (Part-time) Chairman and Prashant Kumar as MD & CEO for a period of 3 years each ▪ Credit Ratings Upgrades by CRISIL, ICRA, India Ratings and CARE with short term rating  highest at A1+ and long-term rating at A- with a Positive Outlook by most agencies3Launched a dedicated Digital Banking Unit in Naharlagun (Itanagar), Arunachal Pradesh,  which offers Bank’s digital services to customers

1 Subject to regulatory approvals- expected in Q3FY23; 2 Subject to Shareholders’ approval; 3 Excluding India Ratings which has a Stable Outlook 

Commenting on the results and financial performance, Prashant Kumar, MD & CEO, YES  

BANK said, “Q2FY23 has been a significantly important quarter in this new journey of the  

Bank. Two marquee global Private Equity players namely Carlyle and Advent International  

have reposed their faith in the franchise committing nearly INR 8,900 Crs investment into  

Equity/ Warrants of the Bank. Moreover, the Bank is close to completion of successful  

transfer of its identified pool of stressed Assets to the JC Flowers ARC. On the Operational  

front, the business momentum continues with Operating Profits at nearly INR 800 Crs which  

is highest in the last 7 quarters, and consistently improving Asset Quality with NNPA now  

below 4% for the first time since Sep-19. As the Banking Industry navigates the rising and  

volatile interest rate environment, wherein Deposit Generation along with Balance Sheet  

growth is emerging as a priority, we are geared up with a superior platform and expanded  

workforce to successfully execute the next growth phase of the Bank.

Financial Highlights Profit and Loss NII at INR 1,991 Crs for Q2FY23 grew 32% Y-o-Y and 8% Q-o-Q ▪ NIM for Q1FY23 at 2.6% up nearly 40 bps Y-o-Y and 20 bps Q-o-Q ▪ Non-Interest Income for Q2FY23 at INR 920 Crs up 18% Y-o-Y and Q-o-Q ▪ Operating Expenses at INR 2,121 Crs for Q2FY23, up 32% Y-o-Y and 4% Q-o-Q largely  led by increase in IT Spends, employee increments and welfare- including Insurance ▪ Cost to Income ratio improved to 72.8% from 77.6% in Q1FY23 ▪ Operating profit stands at INR 790 Crs in Q2FY23, up 17% Y-o-Y and 34% Q-o-Q this is the highest Operating Profits in the last 7 quarters ▪ Provisions (Non-Tax) for Q2FY23 at INR 583 Crs, up 54% Y-o-Y ▪ Net Profit for Q2FY23 at INR 153 Crs Balance Sheet Net Advances at INR 192,300 Crs, up 11% Y-o-Y & 3% Q-o-Q • Sustained improvement in Granularity – Retail & SME: Mid Corporate:  Corporate mix at 54:12:34 vs. 51:11:38 in Q1FY23 and 44:10:46 in Q2FY22 • Retail Advances mix at 41% vs 38% in Q1FY23 and 32% in Q2FY22 • New Sanctions / Disbursements of INR 24,149 Crs in Q2FY23 o Gross Retail Assets Disbursements of INR 12,563 Cr o Rural Disbursements of INR 736 Crs o SME Disbursements1 of INR 6,008 Crs  o Wholesale Banking Disbursements of nearly INR 4,842 Crs  Total Balance Sheet grew 16% Y-o-Y and 5% Q-o-Q to INR 334,496 Crs Total Deposits at INR 200,021 Crs, up 13% Y-o-Y and 4% Q-o-Q • CASA ratio at 31.0% up 160 bps Y-o-Y and 20 bps Q-o-Q • CASA + Retail TDs at 62%2 of Total Deposits • 3.31 Lacs CASA Accounts opened in Q2FY23 vs. 3.0 Lacs in Q1FY23 ▪ Average LCR during the quarter healthy at 116.1%3 ▪ CET 14ratio at 11.7%: Total CRAR4 at 17.3%; RWA to Total Assets at 71% vs. 73%  in Q1FY23 and 79% in Q2FY22  ▪ Investments at INR 57,973 Crs up 3% Y-o-Y  ▪ Borrowings at INR 76,495 Crs up 20% Y-o-Y 
Asset Quality
▪ Sustained Improvement in NPA RatiosNNPA below 4% GNPA ratio at 12.9% vs 13.4% in Q1FY23 and 15.0% in Q2FY22  • NNPA ratio at 3.6% vs. 4.2% in Q1FY23 and 5.5% in Q2FY22  ▪ Slippages lower Y-o-Y and Q-o-Q • Q2FY23 at INR 896 Crs vs INR 1,072 Crs in Q1FY23 and INR 1,783 Crs in Q2FY22  ▪ 31-90 Days Overdue Book trending lower: nearly INR 3,000 Crs decline Q-o-Q • 31-60 days book at INR 1,129 Crs vs. INR 905 in Q1FY23 • 61-90 days book at INR 3,380 Crs lower vs. INR 6,543 Crs in Q1FY23 ▪ Resolution Momentum continues with Total Recoveries & Upgrades for Q2FY23 at INR 1,586 Crs– well on track to achieve the FY23 guidance of INR 5,000 Crs
Other Highlights/ Achievements 
▪ Nearly every 3rd digital transaction undertaken in India is powered by YES Bank Ranked 1 in NEFT Outward Volumes and UPI market share ▪ First Indian Bank to publish its 10th Sustainability Report marking the Bank’s  decade-long leadership in ESG performance and sustainability reporting ▪ Partnered with Govt. of India to develop logistic use cases on Unified Logistics  Interface Platform (ULIP) Launched a dedicated Digital Banking Unit in Naharlagun (Itanagar), Arunachal  Pradesh, which will bring digital services to customers

YES BANK’s Analyst conference call, scheduled on October 22, 2022 at 4:00 PM IST, can be heard at following link, post 10 PM: https://www.yesbank.in/about-us/investors-relation/financial-information/financialresults 

ABOUT YES BANK  

YES BANK is a ‘Full Service Commercial ‘Bank’ providing a complete range of products, services and technology  driven digital offerings, catering to Retail, MSME as well as Corporate clients.  

YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through  YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence  including an IBU at GIFT City, and a Representative Office in Abu Dhabi. 

For more information, please visit the Bank’s website at http://www.yesbank.in/ 

Financial Highlights from Q2FY23 Results 

Profit & Loss Statement Highlights
(INR Crs) Q2FY23 Q1FY23 Growth % Q2FY22 Growth %
Net Interest Income 1,991 1,850 7.6% 1,512 31.7%
Non-Interest Income 920 781 17.7% 778 18.2%
Total Net Income 2,911 2,632 10.6% 2,290 27.1%
Operating Profit / (Loss) 790 590 34.0% 678 16.6%
Provisions 583 175 233.6% 377 54.4%
Net Profit / (Loss) 153 311 -50.8% 225 -32.2%
Basic EPS (INR) 0.06 0.1 -50.8% 0.1 -32.3%
Key P & L Ratios
Return on Assets0.2% 0.4% 0.3%
Return on Equity1.8% 3.7% 2.7%
NIM 2.6% 2.4% 2.2%
Cost to Income 72.8% 77.6% 70.4%
Non-interest Inc. to Total  Income31.6% 29.7% 34.0%
Balance Sheet Highlights
(INR Crs) 30-Sep-22 30-Jun-22 Growth 30-Sep-21 Growth
Advances 192,300 186,367 3.2% 172,839 11.3%
Deposits 200,021 193,241 3.5% 176,672 13.2%
Shareholder’s Funds 34,427 34,149 0.8% 33,608 2.4%
Total Capital Funds 41,209 40,926 0.7% 40,294 2.3%
Total Assets 334,496 318,475 5.0% 288,523 15.9%
Key Balance Sheet Ratios
CRAR17.3% 17.7% 17.6%
CET I11.7% 11.9% 11.5%
Book Value per share (INR) 13.7 13.6 13.4
Gross NPA (%) 12.9% 13.4% 15.0%
Net NPA (%) 3.6% 4.2% 5.5%
NPA PCR84.0% 82.3% 78.9%
Std. Restructured  Advances (Gross)5,928 6,453 6,184
Security Receipts (Net) 315 622 1,417
CASA Ratio 31.0% 30.8% 29.4%
Average LCR 116.1% 118.8% 117.6%

1 Annualized  

2Includes Profits  

 3 Provision Coverage Ratio including Technical Write Offs  

 4 Already implemented as of respective date (across various categories including Covid related) 

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