YES BANK Posts Moderate Growth in Quarter IIIFY24, Stock Closes Flat on BSE

Mumbai: YES Bank Limited has announced its business updates for the third quarter of the 2024-25 fiscal year, showcasing a modest performance across key asset classes.

According to the bank's latest update, deposits rose significantly, increasing by 14.6% to Rs 2.77 lakh crore in Q3 against Rs 2.41 lakh crore in the same quarter last year. However, on a quarterly basis, the growth remained flat.

The bank's loans and advances also witnessed a moderate increase, climbing 12.6% year-on-year (YoY) to Rs 2.45 lakh crore compared to Rs 2.17 lakh crore in Q3 of the previous fiscal. On a quarter-over-quarter (QoQ) basis, growth remained steady at 4.2%.

Furthermore, the bank's customer deposits at Savings accounts and Deposits At Call Availability (CASA) rose substantially, increasing by 27.6% YoY to Rs 91,575 crore in Q3, marking a significant jump from Rs 71,945 crore in the same quarter last fiscal year. CASA accounts also grew 3.4% on a quarterly basis.

YES Bank's stock price closed unchanged at Rs 19.60 after the announcement was made, largely mirroring its previous day's closing value of Rs 19.63 on BSE India. The bank's market capitalization stood at Rs 61,445 crore. During the trading session, 74.70 lakh shares were exchanged, resulting in a total turnover of Rs 14,580 crores.

The update, while moderate, indicates that YES Bank is continuing to navigate complex financial conditions.