Financial Daily from THE HINDU group of publications
Tuesday, Oct 11, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 11, 2005 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks Other income helps YES Bank post Rs 14-cr net in Q2 Our Bureau
Mumbai , Oct. 10 YES Bank has posted a net profit of Rs 14.25 crore for the quarter ended September 30, against a loss of Rs 1.74 crore in the corresponding quarter last year largely due to a significant rise in other income. Total income was Rs 58.82 crore (Rs 3.71 crore). Interest earned was Rs 36.94 crore (Rs 0.35 crore) and other income was at Rs 21.88 crore (Rs 3.36 crore). According to Mr Rana Kapoor, Managing Director and CEO, Yes Bank, it is part of the bank's concerted strategy and intrinsic business model to ensure a high part of non-interest income, such as treasury, trade finance, transaction banking and advisory functions. "Non-interest income for the last four quarters has been higher than the net interest income. In the second quarter 2005-06, non-interest income was 52 per cent of the total income, while in the first half 2005-06, it was 55 per cent," he said Total expenditure increased to Rs 36.34 crore (Rs 8.88 crore). Capital Adequacy Ratio is 26.79 per cent as against 79.28 per cent. For the half year ended September 30, the bank posted net profit of Rs 25.5 crore, against a loss of Rs 2.8 crore last year. Total income for the same period was Rs 106.83 crore (5.67 crore). Interest earned was Rs 65.93 crore (Rs 2.22 crore) and other income was Rs 40.9 crore (Rs 3.44 crore). The board of Yes Bank has proposed to hike the foreign holding in the bank to 73 per cent. Foreign institutional investor holding will increase from 24 to 49 per cent and NRI holding will rise from 10 to 24 per cent. At present, foreign ownership, which includes FDI, FII and NRI holding, is at 45 per cent. The targeted capital expenditure for the branch expansion and increasing manpower strength during this financial year is Rs 54 crore.
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