Yes Bank reports Q4 PAT at Rs 2,629 cr on AT-1 bond write down

Yes Bank jumped 11.39% at Rs 29.35 after the bank reported a net profit of Rs 2628.61 crore in Q4 March 2020 as against a net loss of Rs 1506.64 crore in Q4 March 2019.

The bank generated an extraordinary income (net of tax) of Rs 6,296.94 crore during the quarter on account of writing down of certain Basel III additional tier-1 (AT-1) bonds amounting to Rs 8,415 crore.

Excluding this extraordinary item, Yes Bank reported a net loss from ordinary activities of Rs 3,668.33 crore in Q4 March 2020 compared with a net loss from ordinary activities of Rs 1,506.64 crore in Q4 March 2019.

Total income rose 44.4% to Rs 12,115.53 crore in Q4 March 2020 over the corresponding period last year. The result was announced after market hours on Wednesday (6 May 2020).

The bank's gross non-performing assets (NPAs) stood at Rs 32,877.59 crore as on 31 March 2020 as against Rs 40,709.20 crore as on 31 December 2019 and Rs 7,882.56 crore as on 31 March 2019.

The ratio of gross NPAs to gross advances stood at 16.80% as on 31 March 2020 as against 18.87% as on 31 December 2019 and 3.22% as on 31 March 2019.

The ratio of net NPAs to net advances stood at 5.03% as on 31 March 2020 as against 5.97% as on 31 December 2019 and 1.86% as on 31 March 2019.

The bank's provisions and contingencies rose 33.1% to Rs 4,872.34 crore in Q4 March 2020 over Q4 March 2019.

The bank's net interest income (NII) fell 49.16% to Rs 1,274 crore in Q4 FY20 from Rs 2506 crore in Q4 FY19.

Net interest margin (NIM) stood at 1.9% in Q4 March 2020 as compared to 3.1% in Q4 March 2019.

The bank's CASA (current account to savings account) ratio stood at 26.6% as on 31 March 2020 as compared to 33.1% as on 31 March 2019.

Yes Bank reported a net loss of Rs 22,714.96 crore (excluding extraordinary item) in the full year ended on 31 March 2020 (FY20) as compared to a net profit of Rs 1720.27 crore in the full year ended on 31 March 2019 (FY19). The bank reported a pre-tax loss of Rs 22,943.97 crore in FY20 as against a net profit of Rs 2357.34 crore in FY19.

While the bank's total income rose 4.6% to Rs 35,805.04 crore, provisions and contingencies surged 467% to Rs 32,758.43 crore in FY20 over FY19.

The bank's deposit base has seen a reduction of 53.70% to Rs 105,364 crore as on 31 March 2020 from Rs 2,27,610 crore as on 31 March 2019. Its advances fell 29% to Rs 1,71,443.29 crore as on 31 March 2020 from Rs 2,41,499.60 crore as on 31 March 2019.

Yes Bank is a full service commercial bank' providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.

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