Mumbai, October 1, 2018
YES BANK is pleased to share the following important updates:
1.Succession Planning: The Bank is fully geared for the MD&CEO’s succession
Pursuant to the Board of Directors meeting dated September 25, 2018, the two external experts of the ‘Search & Selection Committee’ will be finalized by October 7, 2018.
‘Search & Selection Committee’, assisted by a Global Leadership Advisory Firm, will evaluate both internal and external candidates and make suitable recommendations to the Board of Directors for onward submission to RBI.
The ‘Search & Selection Committee’ and the Board of Directors are fully committed to expeditiously completing the said process within the current stipulated timelines of RBI.
Further to the Board of Directors recommendation vide meeting dated September 25, 2018, to appoint two senior leaders of the Bank as ‘Executive Directors’, the Bank has submitted its application to RBI for their approval.
3.Business Update – Key Parameters:
Satisfactory Financial Position as on September 30, 2018 (Unaudited Q2FY19):
Deposits grew ~41.0% YoY aggregating ~ Rs. 2.23 Lakh Crores as on September 30, 2018. CASA Ratio stood at ~ 33.8% (growth of ~28.2% YoY)
Loans & Advances grew by ~61.5% YoY, across the Corporate, IBU, MSME and Retail segments, aggregating to ~ Rs. 2.40 Lakh Crores as on September 30, 2018 of which Domestic Advances aggregated to ~ Rs. 2.20 Lakh Crores (growth of ~56.4% YoY)
Gross NPA at ~1.35% of Gross Advances vis-à-vis 1.82 % as on September 30, 2017.
Please note that the above information, being released ahead of the official announcement of the financial results for the quarter ended September 30, 2018, is subject to approval by the Audit Committee of the Board, Board of Directors and review by the statutory auditors of the Bank.
Outlook on Asset Quality is ‘Stable’:
Over the past few days, some unfounded speculations regarding the Bank’s Asset Quality have been brought to its notice. In this context, Management clarifies that the Asset Quality continues to be stable as stated in point 3. a. iii. above and reiterates its credit cost guidance at 50-70 bps for FY19 (76 bps for FY18).
Comfortable Liquidity / Funding Position:
The Bank has a Liquidity Coverage Ratio of ~101% as on September 30, 2018, which is 11% points in excess of the minimum regulatory requirement of 90%. The Bank’s average daily LCR for Q2 FY19 was ~100%. Bank’s liquidity position will further benefit from the recent RBI measures (announced on September 27, 2018) to ease systemic liquidity which will take effect on October 01, 2018.
YES Bank’s analyst conference call, scheduled on October 01, 2018 at 4:00 pm IST, can be heard at following link, post 10 pm:
About YES BANK
YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.
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