📷 Image Credits: The Economic Times
YES Bank has reported a significant increase in both advances and deposits in the first quarter of the financial year, showcasing positive growth for the bank. According to the provisional quarterly business updates filed with the stock exchanges, the bank’s gross advances rose by 15% year on year to Rs 2.29 lakh crore, reflecting a strong performance in the April-June 2024 period. This growth is a promising sign for YES Bank, indicating a strengthened position in the market.
Simultaneously, the bank also reported a substantial growth of 21% in deposits, reaching Rs 2.64 lakh crore in the same quarter. This increase in deposits demonstrates enhanced customer trust and confidence in YES Bank’s services and offerings. Additionally, the bank’s credit-to-deposit ratio for the first quarter improved to 86.4%, showcasing a more balanced financial position compared to the same quarter last year.
The CASA ratio, which signifies the ratio of low-cost current and savings accounts deposits, saw a marginal decrease from 30.9% to 30.7% sequentially. A higher CASA ratio implies a lower cost of funds for the bank, positioning YES Bank in a favorable financial standing. Despite this, shares of YES Bank closed slightly lower at Rs 23.86 apiece prior to the announcement, compared to a stable performance of BSE Sensex.
Overall, the positive growth in advances and deposits for YES Bank indicates a promising start to the financial year, showing potential for further expansion and development in the coming quarters. Investors and stakeholders are likely to take note of these growth figures, which may influence the market perception and performance of YES Bank in the near future.
