Yes Bank dropped 0.31% to Rs 1,196.40 at 12:55 IST on BSE after the bank's sticky loans rose in Q1 June 2016.
The result was announced during market hours today, 27 July 2016.Meanwhile, the S&P BSE Sensex was up 1.11 points at 27,977.63.
On BSE, so far 3.91 lakh shares were traded in the counter as against average daily volume of 2.57 lakh shares in the past one quarter. The stock hit a low of Rs 1,176.25 so far during the day. The stock hit a high of Rs 1,214, which is also a record high for the stock. The stock had hit 52-week low of Rs 590 on 24 August 2015. The stock had outperformed the market over the past one month till 26 July 2016, rising 11.14% compared with 5.98% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 2.58% as against Sensex's 7.57% rise.
The large cap private sector bank has equity capital of Rs 421.16 crore. Face value per share is Rs 10.
On absolute basis, Yes Bank's gross non-performing assets edged higher to Rs 844.56 crore as on 30 June 2016 from Rs 748.98 crore as on 31 March 2016 and Rs 368.30 crore as on 30 June 2015. Yes Bank's ratio of gross NPA to gross advances edged higher to 0.79% as on 30 June 2016 from 0.76% as on 31 March 2016 and 0.46% as on 30 June 2015. The ratio of net NPA to net advances stood at 0.29% as on 30 June 2016 from 0.29% as on 31 March 2016 and 0.13% as on 30 June 2015. Provisions and contingencies jumped 110.93% to Rs 206.63 crore in Q1 June 2016 over Q1 June 2015.
Net interest income (NII) rose 24.2% to Rs 1316.60 crore in Q1 June 2016 over Q1 June 2015 on account of strong growth in advances and current account savings account (CASA) deposits. Net interest margin (NIM) stood at 3.4% for Q1 June 2016 up from 3.3% for Q1 June 2015. Non Interest Income rose 65.2% to Rs 900.50 crore in Q1 June 2016 over Q1 June 2015.
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The total standard restructured advances as a proportion of gross advances was at 0.49% as at 30 June 2016, down from 0.71% as at 30 June 2015. The restructured loans have been performing in line with expectations and the bank does not anticipate any material slippages in this book.
Separately, Yes Bank announced before market hours today, 27 July 2016 that it received an in-principle approval from the Securities & Exchange Board of India (Sebi) to sponsor a mutual fund and to setup an Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Company shall be set up as wholly owned subsidiaries of Yes Bank. The Reserve Bank of India (RBI) already granted approval to Yes Bank for AMC in October 2015.
The bank has already identified senior leadership and technology architecture to establish the business, and will commence operations within 12 months. The AMC will channelize the savings of retail, corporate and institutional investors in equity and debt capital markets by leveraging the bank's Knowledge Banking expertise. This will complement the bank's retail liabilities strategy, and also allow the AMC to leverage the bank's 'DIGICAL' distribution network for customer acquisition, and provide customers a seamless experience for their investments & savings solutions. The bank will simplify and integrate manufacturing to distribution of equity and debt investment products for all its customers. The AMC will further strengthen bank's expertise in wealth management solutions, debt capital markets and gain from its significant and growing customer base & distribution network, and overall execution expertise, to build a large and profitable Fund Management franchise.
Yes Bank is a private sector bank with a pan India presence.
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