YES Bank Q1FY25 Results: Profit jumps 46% YoY to ₹502 crore, CASA improves

YES Bank Q1 Results: Yes Bank has announced its Q1FY25 results today, reporting a standalone net profit of ₹502.43 crore for Q1FY25 (quarter ended June 30). This was up 46.4 per cent compared to the ₹342.52 crore profit after tax (PAT) reported by the bank in Q1FY24, it informed the exchanges.

Profit and loss in Q1FY25

Further, the interest earned in Q1FY25 was reported at ₹7,719.15 crore, up 19 percent from ₹6,443.22 crore in Q1FY24.

The lenders' standalone net interest income (NII) is up 12.2 percent year over year to ₹2,243.9 crore, compared to ₹2,000 crore in the same period last year.

Yes Bank's gross NPA was 1.7 percent in Q1FY25 compared to 1.7 percent in Q4FY24, and net NPA was 0.5 percent compared to 0.6 percent.

In Q1FY25, Yes Bank's net interest income (NII) grew by 12.20 percent YoY to ₹2,244 crore. On QoQ, Yes Bank's NII grew by 4.20 percent.

Yes Bank financials in Q1FY25

In the recently ended June 2024 quarter, Yes Bank reported net advances at ₹2,29,565 crore, logging YoY growth of 14.70 percent and QoQ growth of 0.80 percent.

The private lender's total deposits grew by 20.80 percent from April to June 2024 to ₹2,65,072 crore.

The CASA ratio of Yes Bank in Q1FY25 stood at 30.80 percent, which stood at 29.40 percent in the corresponding period of the previous fiscal and 30.90 percent in the previous quarter.

Management's comment

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO at Yes Bank, said, “The Bank has started the financial year on a strong footing with RoA sustaining Q-o-Q at 0.5% despite seasonality of Q1 and NIL PSL shortfalls. While the Income Engines continue to fire with normalised Net Income Growth at 15% Y-o-Y, the Bank has been able to contain the Operating Cost growth at 8.0% Y-o-Y (exPSLCs). At the same time, the resolution momentum continues to be strong, leading to lower Net Credit Costs, which is also aiding in RoA expansion.

"Other key highlights of the quarter were i) exercise of outstanding Warrants by the Private Equity Investors, and ii) Credit Rating Outlook upgrade by Moody’s and Credit Rating upgrade by ICRA- these external stakeholder validations reinforce faith & confidence in the growth and profitability expansion trajectory of the franchise,” the Yes Bank MD said.