Amid the buzzing worries of all the PSU banks regarding bad loans, mergers, NPAs and also the newest devastating news of debit card scam in both private and public banks, banking sector is in a state of confusion. The debit card scam has also put a question mark on the cashless policy being favoured by the Government. The quest of the Country to become a cashless economy has been dealt a blow by a data breach that compromised as many as 3.2 million debit cards.
In the meantime, the private sector bank, Yes bank posted a rather successful quarter (Q2FY17).
YES Bank has moved higher by 2.5 per cent to Rs 1,324 on the National Stock Exchange (NSE) after the bank reported a better-than-expected 31 per cent year on year (YoY) growth in its net profit at Rs 802 crores for the quarter ended 30thSeptember, 2016 (Q2 of FY17). The private sector lender had profit of Rs 610 crores in year ago quarter.
In a statement to the both the stock exchanges on 20th October 2016 Yes Bank concluded Net Interest Income grew 30.5 per cent YoY to Rs 1,446 crores on back of robust growth in advances & CASA. Net interest margin (NIM) expanded to 3.4 per cent in Q2FY17 from 3.3 per cent a year ago.
Analysts on an average had expected profit of Rs 764 crores on net interest income of Rs 1,376 crores.
Gross non-performing advances (GNPA) stood at 0.83 per cent in Q2FY17 against 0.61 per cent in Q2FY16 and 0.79 per cent in Q1FY17.
The Net non-performing advances stable at (NNPA) at 0.29 per cent as at second quarter of the FY17, as compared to previous quarter. It was 0.20 per cent in the same time of the previous year.
According to Rana Kapoor, the Managing Director and CEO, YES Bank the Bank achieved an important milestone with CASA ratio crossing 30 per cent for the first time to 30.3 per cent. It demonstrates improving productivity and efficiency of our retail liabilities/branch banking growth engines.
By the end of the day Yes bank share price closed at Rs 1,317.40, up by 0.49 per cent or 6.40 points. He intraday high of the share is Rs 1,320.00 and the intraday low is Rs 1,297.00 for 21st October 2016.
Dynamic Levels research and analysis team has identified Yes bank as a top 500 stock due to its strong fundamental Data.
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