Yes Bank on Wednesday announced its third quarter business update through an exchange filing. Yes Bank’s advances were up by 11.7 per cent year-on-year to Rs 196,826 crores from Rs 176,241 for the same quarter in the last fiscal. It went up by 2.4 per cent from Rs 192,235 in the last quarter that ended in September.
Read More: 62% Indians Feel Indian Govt Handled Economy Better In 2022 Than Other Nations: Axis My India Survey
The company in the exchange filing said, “Pursuant to the sale of exposures to ARC, the Loans & Advances figure as of December 31, 2022 is normalised to make figures compatible with previous periods, i.e. an amount of Rs. 5,171 crores has been added, representing the net carrying value of the loan portfolio, as of September 30, 2022, sold to JC Flowers Asset Reconstruction Private Limited.”
In December 2022, the bank said it had transferred stressed assets worth Rs 48,000 crore to JC Flower Asset Reconstruction Private Limited to clear out dud assets.
The bank’s lender deposits jumped by 16 per cent to Rs 213,608 crore in the quarter ending in December, compared with Rs 184,288 in the same period a year ago. The quarterly increase was 6.8 per cent from Rs 200,021 in the second quarter.
Read More: Axis Mutual Fund launches Axis CRISIL IBX 50:50 Gilt Plus SDL June 2028 Index Fund
The lender’s credit deposit ratio for the October-December quarter was at 89.7 per cent, in comparison to 95.6 per cent in December 2021. However, the liquidity coverage ratio dropped to 119.5 per cent against 130 per cent in December 2021.
On Wednesday at 12:54 pm IST, Yes Bank Limited’s shares were at Rs 21.35 down by 3.17 per cent.
