YES Bank shares rise 2% on improvement in advances, deposits growth in Q2
YES Bank reported 9.5 per cent growth in advances and 17.2 per cent growth in deposits. This was an improvement over a 7.5 per cent YoY growth in advances and 13.5 per cent YoY rise in deposits in Q1.
- Oct 4, 2023,
- Updated Oct 4, 2023 10:13 AM IST
Shares of YES Bank climbed 2 per cent in Wednesday's trade after the private lender in its provisional business updates suggested 9.5 per cent growth in advances and a healthy 17.2 per cent growth in deposits. This was an improvement over a 7.5 per cent growth in advances and 13.5 per cent rise in deposits in the June quarter.
Following the development, shares of YES Bank rose 1.69 per cent to hit a high of Rs 17.46 on BSE in an otherwise weak day for the broader market. The private bank total loans and advances stood at Rs 2,10,576 crore in the September quarter compared with Rs 1,92,300 crore in the corresponding quarter last year. Gross deposits came in at Rs 2,34,360 crore compared with Rs 2,00,021 crore in the same quarter last year.
On a sequential basis, loans & advances grew 5.2 per cent over Rs 2,00,204 crore in the June quarter. The private lender said its growth in advances, normalised for ARC transaction, stood at 12 per cent YoY. Deposits for the quarter were u 6.8 per cent over Rs 2,19,369 crore in the June quarter. Deposits growth, excluding certificate of deposits (CDs), grew 18.3 per cent in the September quarter YoY.
The private lender said its current account saving account (CASA) grew 11.1 per cent to Rs 68,957 crore from Rs 62,073 crore on YoY basis. It rose 6.8 per cent over June quarter’s Rs 64,568 crore. CASA to total deposits ratio (net of CDs) fell to 29.4 per cent from 31.3 per cent YoY, but was flat sequentially.
Besides, the bank said its credit to deposit ratio, which suggests the ratio of deposits deployed as loans, stood at 89.9 per cent in the September quarter compared with 91.3 per cent in the June quarter and 96.1 per cent in the same quarter last year. The consolidated liquidity coverage ratio (LCR) came in at 116.7 per cent for the second quarter. This is against 103.9 per cent in the year-ago quarter.
Recently, YES Bank bought 1.8 crore shares in YES Securities at Rs 55.75 apiece for a total consideration of Rs 100 crore. YES Bank had made an application to the RBI in May this year for infusion of additional capital in its broking arm. Shares of YES Bank have declined 6.6 per cent in the last one month. They are down 19.77 per cent in 2023 so far.
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Shares of YES Bank climbed 2 per cent in Wednesday's trade after the private lender in its provisional business updates suggested 9.5 per cent growth in advances and a healthy 17.2 per cent growth in deposits. This was an improvement over a 7.5 per cent growth in advances and 13.5 per cent rise in deposits in the June quarter.
Following the development, shares of YES Bank rose 1.69 per cent to hit a high of Rs 17.46 on BSE in an otherwise weak day for the broader market. The private bank total loans and advances stood at Rs 2,10,576 crore in the September quarter compared with Rs 1,92,300 crore in the corresponding quarter last year. Gross deposits came in at Rs 2,34,360 crore compared with Rs 2,00,021 crore in the same quarter last year.
On a sequential basis, loans & advances grew 5.2 per cent over Rs 2,00,204 crore in the June quarter. The private lender said its growth in advances, normalised for ARC transaction, stood at 12 per cent YoY. Deposits for the quarter were u 6.8 per cent over Rs 2,19,369 crore in the June quarter. Deposits growth, excluding certificate of deposits (CDs), grew 18.3 per cent in the September quarter YoY.
The private lender said its current account saving account (CASA) grew 11.1 per cent to Rs 68,957 crore from Rs 62,073 crore on YoY basis. It rose 6.8 per cent over June quarter’s Rs 64,568 crore. CASA to total deposits ratio (net of CDs) fell to 29.4 per cent from 31.3 per cent YoY, but was flat sequentially.
Besides, the bank said its credit to deposit ratio, which suggests the ratio of deposits deployed as loans, stood at 89.9 per cent in the September quarter compared with 91.3 per cent in the June quarter and 96.1 per cent in the same quarter last year. The consolidated liquidity coverage ratio (LCR) came in at 116.7 per cent for the second quarter. This is against 103.9 per cent in the year-ago quarter.
Recently, YES Bank bought 1.8 crore shares in YES Securities at Rs 55.75 apiece for a total consideration of Rs 100 crore. YES Bank had made an application to the RBI in May this year for infusion of additional capital in its broking arm. Shares of YES Bank have declined 6.6 per cent in the last one month. They are down 19.77 per cent in 2023 so far.
Also read: Titagarh Rail shares in news today as firm inks Rs 857-crore contract with Gujarat Metro Rail