Yes Bank registers 1.3% quarterly growth in loans and advances

Yes Bank registered 1.3% quarter-on-quarter (q-o-q) growth in loans and advances to Rs 1.69 lakh crore during the December quarter, according to provisional data released by the bank on Monday. Similarly, deposits grew 7.7% to Rs 1.46 lakh crore in the quarter, compared to Rs 1.36 lakh crore in the September quarter.

The gross retail disbursements during the December quarter stood at Rs 7,563 crore, up 109% compared with Rs 3,764 crore in the September quarter. Rajan Pental, global head-retail banking at Yes Bank, had earlier told FE that the lender had set a target to disburse retail and small business loans worth Rs 10,000 crore in the December quarter of the current financial year. The bank also aims to double its retail assets and liabilities by 2023.

The certificate of deposits (CDs) grew 1.9% to Rs 7,395 crore from Rs 7,259 crore in the preceding quarter. The current account and savings account (CASA) deposits grew 12.6% to Rs 37,973 crore, compared to Rs 33,713 crore in the September quarter. Similarly, the proportion of total CASA deposits to total deposits grew 120 basis points (bps) to 27.4% in the December quarter, compared to 26.2% in the previous one.

Credit to deposit ratio in the quarter under review stood at 115.6% compared with 122.9% in the previous quarter. Liquidity coverage ratio, a key financial indicator, stood at 115.5% compared with 107.3% in the previous quarter.

The bank said it had registered 38.8% in the deposits during the nine-month period from April to December. However, loans and advances declined 1.4% during the same nine-month period. Earlier, Yes Bank was rescued by a clutch of financial institutions in March as per the reconstruction plan prepared by the Reserve Bank of India.