Home / Companies / News /  Yes Bank aims recoveries of over 5,000 crore in FY23
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Yes Bank MD and CEO Prashant Kumar said the bank targets recoveries and upgrades of more than 5,000 crore in the FY23. While the bank expects to improve the Retail and MSME Advances Mix further, and aims for a CASA ratio of 35%. The bank has announced its annual report for FY22 on Wednesday.

On FY22 performance, Kumar in the annual report said, "YES BANK has closed the year with a first Full Year profit of 1,066 crore and continued its efforts to build businesses across all areas of banking."

"Maximising market share growth in the digital payments space has been our concerted strategy in line with Digital India. In fact, the Bank processes nearly every third digital transaction undertaken in the country," Kumar said.

At the end of FY22, Yes Bank's deposits stood at 197,192 crore, marking a growth of 21% over last year. Advances demonstrated a significant upward trend closing at Rs181,052 crore for the year, an 8% increase over last year’s figures.

A strong run-rate has been maintained in the numbers of accounts acquired, with a total of 10 Lakh CASA accounts opened and 11 Lakh retail FD accounts opened during the year. This uptick has been achieved despite prevailing low-interest rates offered by the banking sector, Kumar said.

Further, he said, "Retail assets continue to form a mixed portfolio spread across secured business loans, auto loans, commercial vehicle loans, personal loans, construction equipment loans, and credit cards. The Bank reported nearly 33,000 crore in new sanctions/disbursements in retail assets in FY 2021-22."

Going forward, Kumar said, "Our constant endeavour is to deliver the best value to our stakeholders and to honour the trust they have placed in us."

"To strengthen our commitment to all our stakeholders, we have shared our strategic objectives for FY 2022-23, which include CASA ratio at 35%, Retail & MSME Advances Mix to further improve by > 400 bps from the current 60:40, Advances YoY growth > 15% with corporate advances growth at 10% and Retail, SME and Medium Enterprises advances growth > 25%, Sustain CD ratio < 100%, Recoveries and Upgrades > 5,000 crore and ROA > 0.75%," Kumar said.

On BSE, Yes Bank shares ended at 12.75 apiece up by 0.31%.

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