GJ Exposure shrinks at Yes Bank!
GJ exposure decreased 1.4% in FY 18 form 1.6% in FY 17!
According to the just announced Financial Results for the Quarter and Year ended March 31, 2018 by the YES Bank, GJ ( gem-n-jewellery) exposure decreased. As of March 31, 2018 GJ exposure remained to 1.4% from1.6% in same period last year 2017.
1: Strong Earnings Delivery: Healthy growth in NII leading to PAT growth of 29.0% (Rs1,179.4 Crores) in Q4FY18 and 26.9% (Rs4,224.6 Crores) in FY18. 2: Large Bank Growth Phase Milestones: Crossed significant milestones of Rs3 Lakh Crores in Total Assets, and US$ 2.5 Bn in IBU Total Assets. Advances and Deposits in excess of Rs2 Lakh Crores each.
3: Well segmented and granular growth: Advances growth of 53.9% y-o-y spread across Corporate, MSME and Retail businesses. Core Retail Banking advances doubled in last one year, now at 12.2% of Total Advances, coupled with healthy growth of 34.4% in MSME.
4: Healthy Asset Quality delivery: Improvement in both GNPA (1.28% from 1.72% sequentially) and NNPA (0.64% from 0.93% sequentially). Credit costs contained at 76 bps for FY18. 5: Leadership position in Digital Space continues: Ranked #2 in performance on Digital payments across Public, Private, Foreign & Payment Banks by Ministry of Electronics & Information Technology (MeitY) for FY18.
Dividend of Rs2.7 per share (135%) recommended by Management & Board (subject to shareholders’ approval). Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, YES Bank said, “FY18 has been a landmark year in YES Bank’s ‘Large Bank Growth Phase’ with the Bank crossing significant milestones in size, outreach & granularity while continuing to deliver on satisfactory earnings.
Well segmented and granular growth across Corporate, MSME and Retail businesses has resulted in Advances crossing ` 2 Lakh Crores, clearly demonstrating breadth of product offerings, and depth of relationships, across segments and sectors. Further Bank’s IBU (GIFT City) business continues to expand, with total assets crossing US$ 2.5 Bn within 3 years of operations. YES Bank also successfully completed its maiden MTN issuance of US$ 600 Mn in the past quarter to support diversified funding for this growth.
As we step into the 4th year (FY18-19) of this current 5 year Large Bank Growth Phase (upto March 31, 2020), we remain well positioned to deliver on growth & earnings while preserving asset quality, and continuing to invest in Digital and technology initiatives towards making YES Bank a cutting edge Digital home country Indian Bank.”
