Yes Bank‘s share price was trading lower on Thursday morning, in line with a broader fall in markets reacting to rising tensions in the Middle East.
What Happened: The Mumbai-based private lender, shared its business updates for the July-September period on Thursday morning before market open.
For the September quarter, deposits increased by 18.3% year-on-year to ₹2.77 lakh crore, compared with ₹2.34 lakh crore during the same period last year. On a sequential basis, deposits rose 4.6% from the ₹2.65 lakh crore reported in the June quarter.
| Particulars | 30-Sep-24 | 30-Jun-24 | QoQ | 30-Sep-23 | YoY |
|---|---|---|---|---|---|
| A. Loans & Advances | 236,512 | 229,565 | 3.0% | 209,106 | 13.1% |
| B. Deposits | 277,173 | 265,072 | 4.6% | 234,360 | 18.3% |
| Certificate of Deposits | – | – | – | – | – |
| CASA | 88,559 | 81,567 | 8.6% | 68,957 | 28.4% |
| CASA Ratio | 32.0% | 30.8% | – | 29.4% | – |
| C. Credit to Deposit Ratio | 85.3% | 86.6% | – | 89.2% | – |
| D. Liquidity Coverage Ratio | 131.9% | 137.8% | – | 120.9% | – |
Loan growth stood at 13.1% year-on-year, reaching ₹2.36 lakh crore for the September quarter. Sequentially, loans also grew by 3%.
See Also: RVNL Misses Out On Major Electrification Contracts For Nagpur Metro Phase 2
The bank's CASA (current account, savings account) deposits showed a strong increase of 28.4% year-on-year, totalling ₹88,559 crore. Sequentially, CASA deposits grew 8.6% compared to the June quarter. This pushed the CASA ratio to 32%, up from 29.4% a year ago and 30.8% in the June quarter.
The credit-to-deposit ratio fell to 85.3% in September, compared to 86.6% in June and 89.2% last year. This ratio indicates how much a bank lends out of its total deposits, with a lower ratio suggesting that Yes Bank is currently holding back on lending to some extent.
Yes Bank's liquidity coverage ratio (LCR) stood at 131.9%, an improvement from 120.9% in the same period last year, although slightly lower than the 137.8% recorded in the June quarter. The LCR is a key indicator of a bank's ability to meet short-term obligations.
Price Action: Yes Bank’s share price was down 1.07% to trade at ₹221.8 shortly after market open on Thursday.
Read Next: Why Tata Motors Shares Are Bleeding In Early Trade Today
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.