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Yes Bank Gives Q2 Performance Update; Shares Rise

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On Monday, Yes Bank in a stock exchange filing provided its update on the July-September performance.

The bank's loans & advances were up 1.4 percent to Rs 1,66,854 crore from Rs 1,64,510 crore in the June-ended quarter. In the March-ended quarter, loans & advances of Yes Bank were at Rs 1,71,443 crore, indicating a contraction of 2.7 percent contraction in half-yearly growth.

Yes Bank Gives Q2 Performance Update; Shares Rise
 

The bank's deposits rose 15.7 percent to Rs 1,35,815 crore at the end of September from Rs 1,17,360 crore in June. In comparison, deposits rose 28.9 percent from Rs 1,05,364 crore in March 2020.

Yes Bank's Liquidity Coverage Ratio (LCR), a regulatory requirement for banks, rose significantly from 37 percent at the end of March to 114.1 percent in June and slipped marginally to 105.4 percent in September. The average quarterly LCR of the bank was 99.6 percent in September when compared to 42.2 percent in June and 40 percent in March quarter.

The Reserve Bank of India (RBI) had brought down the LCR for scheduled commercial banks to 80 percent from 100 percent amid the coronavirus pandemic, to manage liquidity efficiently. The ratio was to be required to be restored to 90 percent level by 1 October and 100 percent by April 2021.

Shares of Yes Bank rose nearly 2 percent in trade on Monday to an intraday high of Rs 13.55 on BSE.

Read more about: yes bank
Story first published: Monday, October 5, 2020, 10:10 [IST]
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