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YES Bank Q2 FY22 results

25-10-2021

Private lender YES Bank’s net profit was up 74.3 per cent to Rs 225 crore in the second quarter ended September 2021 (Q2FY22), on an uptick in non-interest income and a dip in provisions due to lower slippages.

The Bank reported a net profit at INR 225 Cr - up 9.0% Q-o-Q

Key updates of Q2FY22

Net Profit at INR 225 Cr – up 9.0% Q-o-Q. Core Operating Profit1 up 38.0% Q-o-Q led by expanding NIM & continued traction in Retail & Transaction Banking fees
The Bank has made Prudent provisioning of ~INR 336 Cr on a single telecom exposure; aggregate coverage2 at ~10.0%
GNPA ratio at 15.0% vs. 15.6% last quarter; Overdue Book (31 -90 days) lower by ~INR 6,000 Cr Q-o-Q
Resolution Momentum continues with INR 987 Cr of Cash Recoveries & INR 969 Cr of upgrades in Q2FY22
Balance Sheet grew ~ 6% Q-o-Q with C/D ratio at 97.8%, lower than 100% for the first time since Dec’17
Granularity continues to improve: Retail: Corp. mix at 54:46 up 100bps Q-o-Q; CASA ratio at 29.4% up 200bps Q-o-Q
Pickup in New Business Generation: Retail Disbursements at INR 8,478 Cr, SME Disbursements3 at INR 4,576 Cr, Wholesale Banking Disbursements at INR 3,736 Cr; ~244K CASA accounts opened vs. 152K last quarter
Continued Leadership in Technology: UPI: #1 in P2M transactions, ~44% vol. market share, IMPS: #1 Remitter Bank4

Financial Highlights

NII for Q2FY22 at INR 1,512 Cr up 7.9% Q-o-Q. NIMs at 2.2% vs. 2.1% last quarter
Non-Interest income at INR 778 Cr*; Core Non-Interest Income1 at INR 748 Cr up 23.5% Q-o-Q
Operating expenses at INR 1,612 Cr up 5% Q-o-Q led by significant pick up in business activity during the quarter
Operating Profit at INR 678 Cr; Core Operating Profit1 at INR 648 Cr up 38.0% Q-o-Q
Net Advances at INR 172,839 Cr up 6% Q-o-Q; Total Deposits at INR 176,672 Cr up 8% Q-o-Q; CASA growth rate ~2x of overall deposits
Average LCR during the quarter remains healthy at 117.6%; LCR as on September 30, 2021 at 113.1%
CET 1 ratio at 11.5%5: Total CRAR at 17.6%5
Asset quality parameters:
- GNPA of 15.0% vs. 15.6% last quarter
- NNPA of 5.5% vs. 5.8% last quarter
- NPA Provision Coverage Ratio at 78.9% 6

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Finance

YES Bank Q2 FY22 results

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