Yes Bank Reports Strong Q1FY25 Results with Increased Profits and Improved Asset Quality

Yes Bank Q1 Results 2024

Yes Bank's Q1FY25 results indicate a strong start to the financial year with improved profits, controlled costs, and better asset quality. 

The bank is effectively growing its loan and deposit base while maintaining a solid financial position, as confirmed by recent rating upgrades and strategic partnerships.

1. Strong Profit Growth

• Net Profit: Yes Bank made a net profit of INR 502 Crores in Q1FY25. This is a significant increase of 46.7% compared to the same quarter last year (Y-o-Y) and 11.2% higher than the previous quarter (Q-o-Q).

2. Stable Earnings

• Net Interest Margin (NIMs): The bank's NIMs, which measure how efficiently it earns from its loans compared to what it pays on deposits, stayed steady at 2.4% compared to last quarter.

3. Non-Interest Income Up

• Non-Interest Income: This includes fees and charges not related to interest from loans. Yes Bank earned INR 1,199 Crores in this category, showing a solid growth of 20.5% year-over-year.

4. Lower Costs for Provisions

• Net Provision Costs: The amount the bank sets aside for potential loan losses was significantly reduced by 41.2% year-over-year and 55.0% compared to last quarter, totaling INR 212 Crores.

5. Improved Asset Quality

• Gross Non-Performing Assets (GNPA): These are loans that are not being repaid. Yes Bank’s GNPA ratio was 1.7%, down from 2.0% a year ago.
• Net Non-Performing Assets (NNPA): The ratio of loans that are unlikely to be repaid was 0.5%, an improvement from 1.0% last year.

6. Strong Balance Sheet Growth

• Net Advances: The bank's total loans increased by 14.7% year-over-year, reaching INR 2,29,565 Crores.
• Total Deposits: Deposits grew by 20.8% year-over-year to INR 2,65,072 Crores, though they slightly decreased by 0.5% compared to the last quarter.
• CASA Ratio: This measures the proportion of deposits in current and savings accounts. It was 30.8%, up from 29.4% last year.

7. Improved Capital Position

• CET 1 Ratio: The Common Equity Tier 1 ratio, which measures the bank’s financial strength, was 13.3%. This is a key indicator of the bank's stability and ability to absorb losses.

8. Positive External Validation

• Ratings Upgrades: Credit rating agencies Moody’s and ICRA have upgraded Yes Bank’s credit ratings, reflecting confidence in the bank’s financial health.

9. Key Achievements

• Warrants Exercise: Private equity investors injected capital by exercising their warrants, which improved the bank's capital ratio.
• New Partnerships: The bank partnered with EBANX, a fintech company from Brazil, to boost cross-border payments, and launched the Yes Private Business program for elite customers.

Yes Bank Consolidated Financial Statement

Yes Bank Q1 Results Release Date

Yes Bank released its financial results for the first quarter of the financial year 2024-25 on July 20, 2024. This report, covering the period from April 1 to June 30, 2024, highlights the bank's performance and financial health. 

For this quarter, Yes Bank reported a standalone net profit of ₹502.43 crore. The results provide an overview of how the bank performed in terms of earnings, expenses, and other key financial metrics. 

Yes Bank Share Price

Yes Bank Ltd's stock price is currently ₹24.80. Today, it has decreased by ₹0.95, which is a drop of 3.69%.