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The private sector lender of YES Bank, who came out of the reconstruction scheme with the formation of an alternative council earlier this month, reported the increase in its 50 percent year of net profit (yoy) for the quarter ended in June at RS 311 Crore. Here are the top five highlights of bank revenues:
The total progress of the bank grew to RS 1.86 Lakh Crore at the end of March, 3 percent higher based on a quarter-quarter (QoQ) and 14 percent in the year.
At present, retail and micro, small and medium (MSMEs) loans contribute 62 percent of the total progress of the bank. Yes the bank aims to increase the loan share to a total of 66 percent in the entire loan portfolio at the end of the current fiscal, according to the Q1 investor presentation.
Furthermore, a collection of bank standard restructuring loans was reduced to 6,453 Crore RS at the end of June, from RS 6,752 crore quarter.
Overall, new loan and disbursement sanctions by YES Bank established at RS 22,636 core during the quarter ended in June. The total size of the balance sheet grew 17 percent yoy to 3,18 lakh crore at the end of June.
Deposit strong growth
Yes, the total deposit of banks grew to RS 1.93 Lakh Crore as at the end of June, higher 18.3 percent yoy but lower 2 percent in sequence. The low ratio of the ratio of account and savings accounts (CASA) of lenders reached 30.8 percent as the end of June, lower than 31.1 percent per quarter ago but higher than 27.4 percent a year ago.
Net Interest Income (NII), or the difference between interest obtained and issued, standing at 1,850 Crore Hospital during April-June, up 32 percent in the year and 1.7 percent in sequence. Private Bank Net Interest Margin (NIM) rose 30 basis Yoy points to stand at 2.4 percent during the reporting quarter.
Asset quality applies
The ratio of Gross Gross Working Asset (GNPA) Bank, as at the end of June, increased to 13.4 percent from 13.9 percent at the end of March, and 15.6 percent a year ago. NPA Clean (NNPA), meanwhile, moved to 4.2 percent on June 30, lower than 4.5 percent at the end of March.
Slippage, at RS 1,072 Crore in April-June, lower than RS 2,233 Crore reported the last fiscal but was higher than the last quarter Crore 802 RS 802.
Total recovery and improvement during April-June established in RS 1,532 Crore. Recovery in accordance with the bank’s annual guide that he will reach the 5,000 Crore recovery in the current fiscal. Provision (PCR) coverage ratio, as at the end of June, established at 82.3 percent including technical abolition.
NPA auction
Yes the bank has signed a binding term sheet with a central JC interest to form an asset reconstruction company (ARC), he said. Bows will be formed with the aim to acquire a collection of banks identified up to RS 48,000 Crore loans and auction to buyers.
The bank has proposed a hold of up to 20 percent of shares in the bow. JC Flowers have given the basic offer of RS 11,183 Crore for the proposed collection of assets and the bank has launched the Swiss challenge auction for loans emphasized by JC Flowers’ offers as a basic offer.
“Based on successful closure, transactions are determined to be the largest sales of asset agreements emphasized in the domestic market,” said the Bank. Speaking to the media earlier this month, Kumar said after the settlement of the loan transaction emphasized by the bank, yes the bank would have a poor loan in the range of 1 percent to 2 percent.
Management update
Yes the bank has left the reconstruction scheme and formed an alternative council after receiving the required approval from July 15, he said in an exchange notification. RBI then withdrew additional director appointed in the bank council. At present, the Bank Council consists of 6 Independent Directors, 2 Non-Independent Directors and MD & CEO Prashant Kumar.
The alternative council has recommended Kumar’s nomination for MD and CEO positions for 3 years and the proposal is waiting for the Bank of India (RBI) reserve and shareholder approval, the bank said.
