Yes Bank shares Q2 business update, deposits grow 13%
- Shares of Yes Bank rose nearly 2% to ₹15 apiece on the BSE in Tuesday's opening deals
Announcing its Q2 FY23 business update, Yes Bank on Tuesday said that the bank's Loans & Advances came at ₹192,809 crore for the quarter ended September 2022 (provisional), up 11.6% year-on-year (YoY) and up 3.5% quarter-on-quarter (QoQ). The bank's loans & advances for June 2022 were at ₹186,367 crore and for September 2021 at ₹172,839 crore.
The bank's deposits grew 13% to ₹200,020 crore as compared to ₹176,672 crore on a yearly basis. On a quarterly basis, the deposits were slightly up 3.5% from ₹193,241 crore (June 2022). The CASA (current account savings account) was up over 19%% to ₹62,073 crore as against ₹52,029 crore YoY and up 4% from ₹59,544 crore QoQ.
The credit-to-deposit ratio in Q2 was at 96.4% same as the previous quarter and 97.8% in the September 2021 quarter. On the other hand, the Liquidity Coverage Ratio (LCR) of Yes Bank for the quarter stood at 103% versus 116% in the previous quarter and 113% in the year-ago quarter.
Shares of Yes Bank rose nearly 2% to ₹15 apiece on the BSE in Tuesday's opening deals. The bank's stock has gained about 12% in 2022 (YTD) so far.
Yes Bank last month informed that the Reserve Bank of India (RBI) would allow it to exit a reconstruction scheme put in place more than two years ago only after the share lock-in period ends. The bank said in a regulatory filing the lock-in period for shares of existing shareholders would end in March next year.
The lender last month approved private equity firm JC Flowers ARC as the buyer for its ₹48,000 crore stressed loan portfolio. The US-based asset reconstruction company (ARC) had in July this year emerged as the base bidder for the proposed sale of the identified stressed loan book of Yes Bank aggregating up to ₹48,000 crore. As per the binding term sheet between the bank, JCF ARC LLC and JC Flowers for sale of the identified portfolio, the board members also approved the necessary investment for acquisition of up to 19.99% equity stake in JC Flowers ARC by the bank.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
First Published:4 Oct 2022, 09:40 AM IST
- Top Gainers
- Top Losers
- 52 Week High