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Synopsis: YES Bank's Q1 update highlights significant growth, with deposits up 20.8% and advances increasing by 14.8%. Key metrics include a CASA ratio of 30.7% and an improved liquidity coverage ratio of 137.8%.
YES Bank has released its provisional business activity report for the June quarter, revealing a significant increase in both deposits and advances. The bank's deposits saw a substantial year-on-year (YoY) rise of 20.8%, reaching Rs 2,64,910 crore, up from Rs 2,19,369 crore in the corresponding quarter of the previous year. Notably, the growth excluding Certificates of Deposit (CDs) was 20.9% YoY. Despite a slight 0.5% dip in quarterly deposit growth, the advances grew by 0.9%.
The lender's loans and advances also witnessed a healthy increase, jumping 14.8% YoY to Rs 2,29,920 crore from Rs 2,00,204 crore in the same quarter last year. The current and savings account (CASA) deposits surged 26.1% YoY, amounting to Rs 81,405 crore, compared to Rs 64,568 crore in the same period last year. The CASA ratio for the quarter stood at 30.7%, up from 29.4% in Q1FY24 but slightly down from 30.9% in the previous quarter.
Additionally, the bank's credit to deposit ratio improved to 86.8%, compared to 85.5% in March and 91.3% in the year-ago quarter. The liquidity coverage ratio also saw a notable rise, standing at 137.8%, up from 116.1% in March and 127% in the same quarter last year.
YES Bank is yet to announce the date for its Q1 results. Investors will be closely monitoring the stock as it opens for trading on Wednesday.
Disclaimer: This article is based on provisional data and the final Q1 results have yet to be announced by YES Bank.
