Ravneet Gill to lead Yes Bank; Net NPA at 1.18 per cent

Pratik Shastri
Ravneet Gill to lead Yes Bank; Net NPA at 1.18 per cent

Yes Bank announced fairly stable results for Q3FY19 during market hours on Thursday. Bank named Ravneet Gill as the new MD and CEO with effect from March 1. 
  
India's major private bank cleared many uncertainties regarding its leading, gross NPA and IL&FS exposure during its results announcement.

On the financial front, NII for the quarter stood at Rs. 2,666.41 crore. The NII rose by 41 per cent. The bank's total income during this period stood at Rs. 8,849.81 crore as compared to Rs. 6,492.56 crore for the same period last fiscal. Further gross slippages stood at Rs. 2,297 crore. The IL&FS exposure was seen at Rs. 2,530 crore which is the reason for the surge in NPAs. The provision coverage ratio was recorded at 44.44 per cent. The net profit after tax (PAT) was at Rs. 1,001.85 crore. 
  
Yes Bank's total loan book stood at Rs. 2,44,000 crore, which grew by 42 per cent YoY. The CASA ratio for the quarter stood at 33.3 per cent. Important ratios such as return on assets and return on equity stood at 1.1 per cent and 14.4 per cent, respectively on the annual basis. 
  

The stock reacted very positively to the latest updates and headed northward in the closing hour of trade touching a high of Rs. 234.90 per share, up by 19 per cent. The stock closed at Rs. 213.85 per share, up by 8.39 per cent.

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