Q3FY23 Quarterly Result Announced for YES Bank Ltd.
YES Bank announced Q3FY23 results: Q3FY23: Operating Profits at Rs 914 crore in Q3FY23 grew 25% YoY: highest in last 8 quarters Cost to Income ratio improved to 70.7% from 72.8% in Q2FY23 Net Profits at Rs 52 crore- largely impacted due to ageing related provisions Advances grew 10% YoY, Deposits growth at 16% YoY; Balance Sheet up 13% YoY Retail & SME: Mid Corp.: Corporate Mix improved to 58:13:29 from 54:12:34 in Q2FY23 CASA ratio at 29.9% vs. 31.0% in Q2FY23, avg. CASA improved by 20.3% YoY CET I Ratio at 13.0% in Q3FY23 vs. 11.7% in Q2FY23 and 11.6% in Q3FY22 Significant Improvement in NPA ratios; GNPA/ NNPA at lowest levels since Q3FY19 GNPA ratio at 2.0% vs. 12.9% in Q2FY23 and 14.7% in Q3FY22 NNPA ratio at 1.0% vs. 3.6% in Q2FY23 and 5.3% in Q3FY22 Resolution Momentum continues with Total Recoveries & Upgrades for Q3FY23 at ~Rs 1,270 crore- well on track to achieve the FY23 guidance of Rs 5,000 crore Capital raise of ~Rs 8,900 crore concluded in Q3FY23. Pursuant to this, the Bank received Rs 5,093 crore towards Equity Investments and Rs 948 crore towards Warrants application This is the second largest private capital raise transaction to take place in the Indian Banking Sector over the last two decades Appointed Mr. Sunil Kaul (Carlyle) and Ms. Shweta Jalan (Advent) as Additional Directors onto the board Completed assignment of identified pool of stressed assets to the J.C. Flowers ARC This is single largest transaction of sale of non-performing assets in Indian Banking System Multiple ESG certifications/ recognition during the quarter S&P; Global: Highest ESG score amongst Indian banks CDG: Rated ‘A-’ for 2022 Climate Change disclosures – highest rated Indian Bank Moody’s: Ranked 5th amongst 90 Retail and Specialized Banks in Emerging Markets Selected amongst the first four pilot banks for prestigious project of national importance, Digital Rupee (eRs) – the Central Bank Digital Currency (CBDC) launched by RBI. Commenting on the results and financial performance, Mr. Prashant Kumar, MD & CEO, YES BANK said, “During the quarter, the Bank successfully closed two deals which are strategic and transformational in this new journey of the Bank. The successful Capital Raise has aided in significant expansion in our Capital Base, and post full consummation, our CET-I Ratio will reach an extremely comfortable level. Moreover, with successful transfer of stressed Assets to the JC Flowers ARC, the GNPA and NNPA Ratios have now declined to 2% and 1% respectively which is the lowest since Q3FY19. At the same time, the operational momentum of the Bank continues with further step-up in Disbursements across segments and highest Operating Profit in the last eight quarters." Result PDF23-01-2023
