Yes Bank Q1 Update: Advances, deposit growth decline sequentially; stock remains below deal price

Yes Bank Ltd., the Mumbai-based private lender reported its business update for the April-June quarter on Thursday evening.Its deposits for the fourth quarter increased by 4.1% to ₹2.75 lakh crore from the previous year’s ₹2.65 lakh crore. However, it was 3% lower than the ₹2.84 lakh crore it reported in the previous quarter.
The lender’s current account saving account (CASA) deposits increased 10.8% to ₹90,347 crore in the first quarter compared to ₹81,567 crore in the year-ago period. It declined 7.3% sequentially from ₹97,480 crore.
Yes Bank’s CASA ratio expanded to 32.7% from the previous year’s 30.8% but contracted sequentially from 34.3%.
The lender’s loans and advances came in at ₹2.41 lakh crore, up 5.1% from ₹2.29 lakh crore in the previous fiscal but down 2% from the previous fiscal’s ₹2.46 lakh crore.Yes Bank’s liquidity coverage ratio (LCR) of 135.7% contracted from 137.8% in the previous year but was higher than the March quarter’s 125%.

On another note, in May, Japanese financial institution Sumitomo Mitsui Banking Corporation (SMBC), acquired a 20% stake from State Bank of India Ltd., and a consortium of lenders, who had rescued the bank back in 2020. The stake was acquired at ₹21.5 per share.

Yes Bank shares were trading flat at ₹20.17 apiece at 10 am on Friday, July 4. The stock has declined 4.5% in the past month.

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