Yes Bank Q1 loans & advances rise 7.7% YoY, deposits up 13.5%
Yes Bank on Wednesday reported a 7.7% year-on-year (YoY) jump in its loans and advances at Rs 2,00,308 crore for the quarter ended June 30, 2023. The figure rose just 0.1% sequentially as against Rs 2,00,201 crore in the March 2023 quarter. The advances growth normalised for ARC transactions witnessed a 10% YoY and 0.1% QoQ rise.
The numbers are provisional and were announced before the market opening time. The company will be declaring its quarterly earnings later in the current quarter. The stock jumped 1.7% on the NSE in the opening trade following Q1 provisional data.
It witnessed strong buying action with traded volumes of over 3 crore shares on NSE. The deposits grew by 13.5% YoY to Rs 2,19,369 crore in the June quarter from Rs 193,241 crore in the same period last year. It was a 0.9% QoQ growth, the company said in its filing to the exchanges.
The CASA stood at Rs 64,528 crore in the June quarter as against Rs 66,903 in the March ended quarter, down 3.6%. On a YoY basis, it was up 8.4% from Rs 59,544 crore in Q1FY23. The Credit to Deposit Ratio stood at 91.3% in the June 2023 quarter compared with 96.4% in the June 2022 quarter and 92% in the March 2023 quarter, the exchange filing said.
Yes Bank shares have been rallying over the past three trading sessions and have given over 33% returns in the past one year, in line with the returns given by the Nifty Bank index. Although, the stock has outperformed the benchmark Nifty50, which has returned 22.63% during this period. The stock hit a 52-week high of Rs 24.75 in December and a 52-week low of Rs 12.55 in July 2022.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
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