Key updates of Q3FY22
- Net Profit at INR 266 Cr –up 18.2% Q-o-Q; Operating Profit up 7.7%Q-o-Q
- NIMs at 2.4% up 25bps Q-o-Q led by ~30bps reduction in Cost of Deposits, at 4.9%- below 5% for the first time
- GNPA ratiofurther improves: 14.7% vs. 15.0% last quarter led by lowerSlippages at INR 978 Cr vs. INR 1,783 Cr in Q2
- Resolution Momentum continues withINR 610 Cr of Cash Recoveries &INR 573 Cr of upgrades during Q3FY22
- Balance sheetabove INR 3 Lac Cr for first time since Sept’19, up ~6% Q-o-Q; CDRatio further improves to 95.6%(vs. 97.8%)
- Granularity continues to improve– Retail: Corp. mix at 57:43 up300bps Q-o-Q; CASA ratio at30.4%up 100bps Q-o-Q
- Sustained momentum in New Business Generation: Retail Disbursements at INR 9,313Cr, SME Disbursements1 at INR 4,940Cr, Wholesale Disbursements at INR 4,760Cr; new CASA accounts opened in a month crossed 1 Lac mark in Dec’21
- Expanding geographical presence: Opened 22 new branches; Increased 1,065 new YES Bankers since March 31, 2021
- Continued Leadershipin Technology: UPI: #1 in P2M transactions, ~42% vol. market share, IMPS: #1 Remitter Bank2
- Included in the MSCI ESG indices; Committed to reduce greenhouse gas emissions across the country to net zero by 2030
- Successfully closed the sale of YES AMC during Q3FY22
Financial Highlights
- NII forQ2FY22at INR 1,764 Crup 16.6% Q-o-Q. NIMs at 2.4%vs. 2.2% last quarter
- Non-Interest income at INR 734 Cr; highest ever Retail Fee Income at INR 447 Cr
- Operating expenses at INR 1,767 Cr up 9.6% Q-o-Q led by sustained momentum in business activity during the quarter
- Operating Profit at INR 731 Crup7.7% Q-o-Q
- Net Advances at INR176,241 Crup 2.0% Q-o-Q; Total Deposits at INR 184,288 Crup 4.3% Q-o-Q; CASA continues to grow at ~2xrate of overall deposits growth
- Average LCRduring the quarterremains healthy at 123.8%; LCR as on December 31, 2021 at 130.0%
- CET 1 ratio at11.6%3: Total CRAR at 17.7%3
- Asset quality parameters:
- GNPA of 14.7% vs. 15.0% last quarter
- NNPA of 5.3%vs. 5.5% last quarter
- NPA Provision Coverage Ratio at 79.3%4