Announcing its Q2 FY23 business update, Yes Bank on Tuesday said the bank’s loans and advances 192,809 crore, up 11.6% year-on-year (YoY) and 3.5% quarter-on-quarter (QoQ) for the quarter ended September 2022 (provisional). The bank’s loans and advances for June 2022 were 186,367 crore and for September 2021 172,839 crores.
Bank deposits increased by 13% 200,020 crore as compared to 176,672 crore on an annual basis. On a quarterly basis, deposits were up a little over 3.5% 193,241 crore (June 2022). CASA (Current Account Savings Account) was over 19%% 62,073 crore as against 52,029 crore and up 4% year-on-year 59,544 crore QoQ.
Credit-to-deposit ratio in Q2 stood at 96.4% same as last quarter and 97.8% in September 2021 quarter. On the other hand, Yes Bank’s liquidity coverage ratio (LCR) for the quarter stood at 103% versus 116% in the previous quarter and 113% in the year-ago quarter.
shares of Yes Bank increased by about 2% 15 ep on BSE in Tuesday’s opening deals. The bank’s stock has gained about 12% so far in 2022 (YTD).
Yes Bank had last month informed that the Reserve Bank of India (RBI) would allow it to exit the reconstruction scheme undertaken more than two years ago only after the share lock-in period is over. The bank said in a regulatory filing that the lock-in period for the shares of existing shareholders will end in March next year.
The lender last month approved private equity firm JC Flower ARC as its buyer 48,000 crore stressed loan portfolio. US-based Asset Reconstruction Company (ARC) had in July this year emerged as the Aadhaar bidder for the proposed sale of the stressed loan book identified to Yes Bank. 48,000 crores. As per the binding term sheet between the Bank, JCF ARC LLC and JC Flowers for the sale of the identified portfolio, the Board members also approved the investment required for the acquisition of 19.99% equity stake in JC Flowers ARC by the Bank.
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