Yes Bank net profit rises 71%

Mumbai-based Yes Bank has posted 71 per cent growth in its net profit at Rs 94.36 crore for the financial year ended March 31, 2007, as against Rs 55.32 crore in 2005-06.

The total income for the reporting year rose by 170 per cent to Rs 782.18 crore as compared to Rs 289.92 crore in the previous financial year. The interest income jumped by 205 per cent to Rs 587.61 crore from Rs 192.8 crore.

The net profit for fourth quarter ended March 2007 was up 102 per cent at Rs 30.90 crore over Rs 15.32 crore a year ago. The total income registered a growth of 177 per cent in Q4 at Rs 281.09 crore over Rs 101.34 crore in January-March 2006.

The total advances grew by 161 per cent to Rs 6,290 crore from Rs 2,407 crore as on March 31, 2006. The total deposits grew by 182 per cent to Rs 8,220 crore from Rs 2,910 crore. The balancesheet rose by 167 per cent to Rs 11,103 crore.

Rana Kapoor, Managing Director & CEO, Yes Bank said, "the year saw significant investments into the retail branch network that has enabled to augment our service delivery channels."

The Capital Adequacy Ratio was 13.6 per cent (Tier I - 8.2%) as on March 31, 2007. The return on assets was 1.24 per cent while return on equity stood at 13.9 per cent for 2006-07. The book value per share was Rs 28.11. The total employee strength stood at 2,443 as on March 31, 2007 (627 as on March 31, 2006).