Q3 2024 Yes Bank Ltd Earnings Call Transcript
Key Points
- Yes Bank Ltd (BOM:532648) reported a year-over-year deposit growth of 15%, outpacing the advances growth of 13.6%.
- The CASA ratio improved sequentially to 29.7% from 29.4%, with significant growth in savings accounts.
- The bank's branch banking deposits increased to 55% of total deposits, reflecting a strong focus on branch banking.
- Noninterest income grew by 23.4% year-over-year, driven by core fee income growth.
- The net profit for Q3 was INR 231 crore, marking a 349% year-over-year increase.
- The CET ratio declined to 12.6% from 13% in the previous quarter, impacted by regulatory-mandated risk weight increases.
- Retail slippages were higher this quarter, particularly in the unsecured loan segment.
- Operating expenses increased by 10.6% year-over-year, although the quarter-on-quarter growth was less than 1%.
- The provision coverage ratio, excluding technical write-offs, is still relatively low at 56.6%.
- The bank's net interest margin remains low at 2.4%, despite a slight quarter-on-quarter improvement.
Ladies and gentlemen, good day, and welcome to the Yes Bank's Q3 FY24 earnings conference call. On the management panel, we have with us today, Mr. Prashant Kumar, MD and CEO; Mr. Rajan Pental, Executive Director; Mr. Niranjan Banodkar, Chief Financial Officer; Mr. Manish Jain, Country Head, Wholesale Banking; Mr. Pankaj Sharma, Chief Strategy and Transformation Officer; and Mr. Sunil Parnami, Head of Investor Relations.
Mr. Prashant Kumar will give an overview of the results, which will be followed by a question-and-answer session. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Prashant Kumar. Thank you, and over to you, sir.
Very good morning, and thank you for joining us so early in the day for our quarter-three earnings call. On this call, I am joined by the senior team members of the bank.
Before I share the key highlights of the previous quarter, I would like to start
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
