Yes Bank, one of the leading private sector banks, on Wednesday reported a growth of 30.12% in its third quarter net profit. The bank earned a profit of Rs 5.40 billion for the quarter ended Dec. 314, 2014. Market was expecting profit to come at Rs 5.16 billion.
The bank's quarterly income totaled at Rs 35.08 billion, an increase of 20.88% over Rs 29.02 billion in the same period a year ago.
Net Interest Income posted healthy growth of 36.6% y-o-y to Rs 9.09 billion in Q3FY15 on back of steady growth in advances.
Advances grew by 32.4% and Deposits by 21% y-o-y, CD Ratio stands at 80.9%.
Y-o-Y growth in CASA of 30.7%; CASA Ratio improves steadily to 22.6% from 20.9% a year ago. SA deposits grew by 42.8% y-o-y.
CRAR of 16.7% and Tier I ratio at 11.8% (including profit and adjusted for prorated dividends). Total Capital Funds are at Rs 161.95 billion.
Total Deposits grew by 21.0% to Rs 823.70 billion as at Dec. 31, 2014. The bank's Balance Sheet grew by 21.6% to Rs 1232.97 billion as at Dec. 31, 2014.
Gross Non Performing Advances as a proportion of Gross Advances was at 0.42%, while Net Non Performing Advances as a proportion of Net advances was at 0.10% as at December 31, 2014.
Rana Kapoor, managing director & CEO, Yes Bank said, ''YES Bank has delivered another steady quarter with healthy growth in Net Profit of 30% driven by sustained increase in NII, expanding NIMs and stable asset quality. Further, the Bank continued its focus on building granularity in deposits demonstrated by Retail deposit contribution of 45.4% as on December 31, 2014. In FY2015, the Bank has so far raised USD 500 million equity through QIP and Long term Funding of USD 422 million through Dual Currency Syndicated Facility and USD 200 million from Asian Development Bank aggregating to approximately USD 1.2 Bn. This reflects faith and trust reposed in Yes Bank from a diverse set of global stakeholders.
He further added that, with an improving public policies and macroeconomic environment, Yes Bank is well poised to capture growth as demonstrated by 32.4% growth in advances in this quarter, resulting in increasing market share in Indian Banking.''
Shares of the bank gained Rs 2.45, or 0.31%, to trade at Rs 784.5 at the BSE (12.47 p.m., Wednesday).