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Long buildup in Yes Bank, may goes up to Rs. 37

Long-buildup-in-Yes-Bank

On May 30th, 2023, Yes Bank unveiled a brand new identity and updated its logo to resonate with customers' evolving needs and aspirations. Yes Bank launched a vibrant new logo, transforming the tick into a soaring bird, reflecting the progressive spirit in the bank's position after years of fighting with bad debts, replacing angular edges and smoothed corners. The blue and red color has been updated with an electric tone, representing high energy. The bank integrated a new campaign, 'Life Ko Banao Rich,' to emphasize its commitment to rewarding the banking experience and empowering customers to focus on their priorities while caring for their financial needs.

For the financial year 2023, net profit on annualized basis fell by 30 per cent from Rs. 1064 by the end of Mar 2022 to Rs. 735 cr as of Mar 23 due to an increase in provisioning in the last two quarters. On a Q-o-Q basis, net profit increased more than two folds but fell by half from the same quarter the year before. The decline in profits was mainly due to provisions for existing bad loans which resulted in the net non-performing assets dropping to 0.8% from 4.5% a year ago.

Gross NPA has fallen substantially on a Y-o-Y basis from nearly Rs 30000 cr (14%) on Mar 22 to Rs. 4400 cr (2.17%) on Mar 23. Subsequently, Net NPA drastically fell from 4.53 % on Mar 22 to 0.83% on Mar 23.

Net interest income (NII) for the Last quarter of FY23 came at Rs 2105 cr, up 15.7% from the same quarter the previous year and 6.8% Q-o-Q. FY23 NII at Rs. 7,918 cr up 21.8% Y-o-Y. Net interest margin (NIM) for the last quarter of FY23 came at 2.8%, up nearly 30 bps on a Q-o-Q basis. FY23 NIM at 2.6%, up 30 bps Y-o-Y

CASA ratio increased by 90 bps at 30.8% Q-o-Q. Average CASA Deposits for the financial year 23 increased by 26.3% Y-o-Y, aided by 30.4% Y-o-Y growth in Avg. current account deposits. The bank opened 13.4 Lakh CASA accounts in FY23 compared to 11.4 Lakh in FY22.

Slippages continue to trend lower for the current financial year at Rs. 4,775 cr compared to Rs. 5,795 cr in the previous FY.

 

Balance Sheet Highlights
INR Cr. 31-Mar-23 31-Dec-22 Growth 31-Mar-22 Growth
Advances 203269 194573 4.50% 181052 12.30%
Deposits 217502 213608 1.80% 197192 10.30%
Key Balance Sheet ratio
CRAR 17.90% 18.20% 17.40%
CET 1 13.30% 13.00% 11.60%
Gross NPA % 2.20% 2.00% 13.90%
Net NPA % 0.80% 1.00% 4.50%
NPA PCR % 62.30% 49.40% 70.70%
CASA RATIO 30.80% 29.90% 31.10%
Average LCR 118.50% 113.30% 114.60%

 

 

Annual P&L FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Total Income 26,826.76 22,423.52 23,475.39 38,008.12 34,299.28
Total Income Growth (%) 19.64 -4.48 -38.24 10.81 34.18
Provisions & Contingencies 2,465.66 1,849.89 8,436.08 28,312.49 6,417.30
Provisions & Contingencies Growth (%) 33.29 -78.07 -70.2 341.19 82.02
Profit after Tax (PAT) 735.82 1,064.05 -3,488.93 -16,432.58 1,709.27
PAT Growth (%) -30.85 - - -1,061.38 -59.62
Net Interest Margin (%) 2.22 2.03 2.71 2.63 2.57
Net Profit Margin (%) 3.24 5.59 -17.41 -63.07 5.76

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