Yes Bank asset quality worsens: Q2 net profit drops 4%; all key figures in a nutshell

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Published: October 25, 2018 5:41:13 PM

Yes Bank's net profit for the quarter stood at Rs 964.7 crore, a drop of 4% as compared to the previous quarter.

Yes Bank Q2 results, Yes Bank share priceYes Bank on Thursday reported a loss of nearly 4% in its net profit for the second quarter ended September 2018.

Yes Bank on Thursday reported a loss of nearly 4% in its net profit for the second quarter ended September 2018, missing analyst’s estimates. Yes Bank’s net profit for the quarter stood at Rs 964.7 crore against a CNBC TV18 poll estimate at Rs 1,253.3 crore. According to the private sector lender, the net profit declined due to the impact of a one-time mark-to-market (MTM) provisioning, predominantly on Corporate Bonds.

Asset quality of the bank deteriorated as the gross non-performing assets (NPAs) of the bank rose to 1.60% during the second quarter of 2018 as compared to 1.31% reported during the previous quarter. Net NPA also rose to 0.84% from 0.59% reported during the previous quarter. Yes Bank’s provisions rose a little over 50% from the previous quarter to Rs 940 crore. The private lender also disclosed an exposure of Rs 2,620.7 crore to an infrastructure lender.

“Advances growth has been well segmented across Corporate, IBU, MSME and Retail Business. Moreover strong deposit growth with rising proportion of granular deposits (CASA + Retail FDs) is testament to the leverage created across people, branches and technology over the past few years. Inherent strength of the franchise has also been
corroborated by recent re-iteration of ratings by various international and domestic credit rating agencies,”  Rana Kapoor, Managing Director & CEO, Yes Bank, said in a statement.

Yes Bank share price closed lower by 2.77% at Rs 198.35  per share on the BSE. We take a look at all key figures in a nutshell:

YES BANK Q2 results: Key takeaways

  • Net Profit for the quarter declined 3.8% year-on-year to Rs 964.7 crore, which includes an impact of Rs 252.2 crores of one time MTM provisioning, predominantly on Corporate Bonds.
  • Operating profit grew 24.1% YoY to Rs 2,366.4 crore; cost to income ratio was flat at 39.2%
  • Total assets grew by 56.6% YoY to Rs 371,647.2 crore
  • Net Interest Income (NII) grew by 28.2% YoY to Rs 2,417.6 crore with NIMs stable at 3.3%
  • Deposits grew by 41.0% YoY to Rs 222,837.9 crore
  • GNPA stood at 1.60% and NNPA at 0.84%. GNPA increased from earlier disclosed provisional ratio for Q2FY19 (on October 01, 2018) due to the classification of one account with exposure of Rs 631.2 crore as NPA based on post period end review process.
  • CASA ratio stood at 33.8% on the back of 28.2% YoY growth

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