Financial Daily from THE HINDU group of publications
Tuesday, Jan 10, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 10, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks YES Bank registers Rs 14.5-cr net in Q3 Our Bureau
Mumbai , Jan. 9 YES Bank has reported a net profit of Rs 14.5 crore for the third quarter ended December 31, 2005, on account of an increase in advances and non-interest income. The bank registered a loss of Rs 33 lakh in the year-ago period. Total income rose to Rs 81.74 crore (Rs 15.24 crore), while total expenditure was Rs 55.58 crore (Rs 12.25 crore). Net-interest income increased to Rs 26.93 crore (Rs 4.55 crore). Other income was Rs 24.96 crore (Rs 7.79 crore). Mr Rana Kapoor, Managing Director and Chief Executive Officer, YES Bank, said: "We have been building our loan book and our non-interest income from activities such as treasury, trade finance, transactional banking and merchant banking." The bank plans to raise Rs 200-crore Tier-II capital before March 2006, he said. The bank made a provision of Rs 2 crore, in line with RBI guidelines of raising the risk weightage of general loans from 0.25 per cent to 0.4 per cent. The bank's advances were higher at Rs 19.11 crore (Rs 5.67 crore), while total deposits increased to Rs 17.78 crore (Rs 2.98 crore). Corporate advances comprised 70 per cent of the total advances, while medium and small segment comprised 30 per cent. The bank has no retail advances as of now, Mr Kapoor said. Capital adequacy ratio (CAR) was 16.22 per cent against 28.18 per cent. "We raised capital only six months ago and in one quarter we have used up lot of the CAR. We have enough capital to last us for six months," Mr Kapoor said. The bank continued to have no NPAs. In 2005, the bank launched Global Indian Banking product for non-resident Indians to facilitate their banking and investment requirements in India. YES Bank informed the Bombay Stock Exchange that Mr Ajay Relan had resigned from the board of the bank after Citicorp International Finance Corporation (CIFC) withdrew the nomination. CICR has nominated Mr P.R. Srinivasan, who was earlier the alternate director to Mr Relan. On Monday, shares of Yes Bank moved down to Rs 69.25 from the previous Rs 71.2 on the BSE.
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