| Key Highlights |
| § Operating Profits at INR 790 Crs in Q2FY23 grew 17% Y-o-Y: highest in last 7 quarters • NIMs at 2.6% up 40 bps Y-o-Y and 20 bps Q-o-Q • Cost to Income ratio improved to 72.8% from 77.6% in Q1FY23 • Net Profits at INR 153 Crs-largely impacted due to ageing related provisioning requirement during Q2FY23§ Advances grew 11% Y-o-Y, Deposits growth at 13% Y-o-Y; Balance Sheet up 16% Y-o-Y • Retail & SME: Mid Corp.: Corporate Mix improved to 54:12:34 from 51:11:38 in Q1FY23 • Retail and SME advancescross INR 1,00,000 Crs and Home loans cross INR 10,000 Crs • CASA ratio at 31.0% vs. 30.8% in Q1FY23, avg. CASA improved by 32.4% Y-o-Y§ Improving Asset Quality: NNPA ratio below 4% for the first time since Sep-19 • GNPA ratio at 12.9% vs.15.0%in Q2FY22 and 13.4% in Q1FY23 • NNPA ratio at 3.6% vs.5.5%in Q2FY22 and 4.2% in Q1FY23 • Slippages lower at INR 896 Crs vs. INR 1,783 Crs in Q2FY22 and INR 1,072 Crs in Q1FY23 • Resolution Momentum continues with Total Recoveries & Upgrades forQ2FY23 at INR 1,586 Crs– well on track to achieve the FY23 guidance of INR 5,000 Crs |
| § The Board & Shareholders approved a capital raise1 of nearly INR 8,900 Crs via pref. issue to two Global Private Equity Investors- Carlyle and Advent International § The Board approved JC Flowers ARC as winner of Swiss Challenge process;expected closure in Q3FY23– transaction set to be largest sale of stressed assets deal in India § Received RBI approval for appointments2 of R Gandhi as Non – Executive (Part-time) Chairman and Prashant Kumar as MD & CEO for a period of 3 years each§ Credit Ratings Upgrades by CRISIL, ICRA, India Ratings and CARE with short term rating highest at A1+ and long-term rating at A- with a Positive Outlook by most agencies3 § Launched a dedicated Digital Banking Unit in Naharlagun (Itanagar), Arunachal Pradesh, which offers Bank’s digital services to customers |
Commenting on the results and financial performance, Prashant Kumar, MD & CEO, YES BANK said, “Q2FY23 has been a significantly important quarter in this new journey of the Bank. Two marquee global Private Equity players namely Carlyle and Advent International have reposed their faith in the franchise committing nearly INR 8,900 Crs investment into Equity/ Warrants of the Bank. Moreover, the Bank is close to completion of successful transfer of its identified pool of stressed Assets to the JC Flowers ARC. On the Operational front, the business momentum continues with Operating Profits at nearly INR 800 Crs which is highest in the last 7 quarters, and consistently improving Asset Quality with NNPA now below 4% for the first time since Sep-19. As the Banking Industry navigates the rising and volatile interest rate environment, wherein Deposit Generation along with Balance Sheet growth is emerging as a priority, we are geared up with a superior platform and expanded workforce to successfully execute the next growth phase of the Bank.
