Private lender,
Yes Bank recorded a net profit of Rs225cr in the quarter ending September 2021 (Q2FY22) period, rising by a whopping 74.3% from Rs129cr posted in the same quarter last year. Yes Bank logs better-than-expected bottom-line front in Q2.
Also, the bank witnessed a 38% sequential rise in Q2FY22 operating profit led by expanding NIM & continued traction in Retail & Transaction Banking fees.
Net interest margins were at 2.2% in Q2FY22 lower from 3.1% in Q2FY21 but broadly flat from 2.1% logged in Q1FY22.
However, the lender's net interest income (NII) was at Rs1,512cr in Q2FY22 compared to Rs1,973cr of Q2FY21 - registering a decline of 23.4% yoy.
The Bank has made Prudent provisioning of ~Rs336cr on a single telecom exposure; aggregate coverage at ~10.0%.
Gross NPA were at 15% in Q2FY22 versus 16.9% in Q1FY22 and 15.6% in Q1FY22.
Key highlights of the earnings are:
- Resolution Momentum continues with Rs987cr of Cash Recoveries & Rs969cr 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 Rs8,478cr, SME Disbursements3 at Rs4,576cr, Wholesale Banking Disbursements at Rs3,736cr; ~244K CASA accounts opened vs. 152K last quarter
- Continued Leadership in Technology: UPI: #1 in P2M transactions, ~44% vol. market share, IMPS: #1 Remitter Bank
Yes Bank was trading at Rs14 per piece up 1.97% on Sensex at around 09.16 am,
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