Total income jumped 25.2% year on year (YoY) to Rs 7,298.51 crore in the quarter ended 31 March 2023.

Profit before tax in Q4 FY23 stood at Rs 271.34 crore, down by 46.08% from Rs 503.19 crore reported in the corresponding quarter previous year.

Net interest income (NII) stood at Rs 2,105 crore for Q4FY23, recording a growth of 15.7% YoY and 6.8% quarter on quarter (QoQ) 6.8%. NIM for Q4 FY23 at 2.8% up nearly 30 bps on both YoY and QoQ basis.

The private bank's operating profit before provisions & contingencies rose 14.81% YoY to Rs 888.90 crore in Q4 FY23.

The bank's operating expenses in Q4 FY23 came in at Rs 2,299 crore, registering a growth of 19.3% YoY.

On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 4,394.57 crore as on 31 March 2023 as against Rs 3,903.68 crore as on 31 December 2022 and Rs 27,975.98 crore as on 31 March 2022.

The gross NPA ratio was at 2.17% as on 31 March 2023 as compared to 2.02% as on 31 December 2022 and 13.93% as on 31 March 2022.

The net NPA ratio was at 0.83% as on 31 March 2023 as against 1.03% as on 31 December 2022 and 4.53% as on 31 March 2022.

Gross slippages stood at Rs 1,196 crore in the quarter ended 31 March 2023, down 25.71% from Rs 1,610 crore reported in the same period last year.

Net advances were at Rs 203,269 crore as on 31 March 2023, up 12.3% YoY. Total deposits stood at Rs 217,502 crore as on 31 March 2023, registering a growth of 10.3 % YoY. CASA ratio stood at 30.8% as on 31 March 2023 as compared to 31.1% posted in the same period a year ago.

Total recoveries and resolutions were at Rs 1,733 crore in Q4 FY23. Average liquidity coverage ratio (LCR) during the quarter remains healthy at 118.5%; LCR as on 31 March 2023 was at 123.9%.

On full year basis, the bank's net profit declined 32.71% to Rs 717.40 crore on 19.47% jump to Rs 26,624.08 crore in FY23 over FY22.

Yes Bank said that resolution momentum continues to be strong with total recoveries & upgrades for FY23 stood at Rs 6,120 crore, exceeding Rs 5,000 crore guidance.

Prashant Kumar, MD & CEO, Yes Bank, said, “Over the last three years, the bank has significantly progressed on several strategic objectives such as strengthening of governance and compliance standards, bolstering the balance sheet through granularity, addressing the asset quality concerns, building up a strong liability franchise and expanding the customer base. At the same time,- with continuous focus on retail, we have continued to expand our footprints with new branches, increased the employee headcount and stepped-up our investments in technology.”

He further added, “Our Retail franchise has now reached a critical scale and is poised for profitable growth. With the current momentum of accelerated growth, the efficiency gains and operating leverage will naturally drive the bank's profitability upwards. In addition to this, in order to further accelerate the profitability expansion, the bank will be making strategic interventions in the form of calibrated yield enhancement, higher focus on growth in CA and improvement in cross-sell / fee growth on the expanded customer base. Moreover, the significant recoveries and upgrades during the year and particularly Q4 have been utilized for accelerated provisioning to step-up PCR and normalize credit costs over the near term.”

Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to retail, MSME as well as corporate clients.