SEBI approves mutual fund business
YES BANK has delivered sustained performance with net profit growing 30.5% to Rs.1,260.4 crores in Q1 FY19.
The growth has been well segmented across Corporate, IBU, SME and particularly Retail Business which grew 105% y-o-y taking Retail Banking proportion in total advances to 14.0%, Rana Kapoor, YES BANK Managing Director & CEO Rana Kapoor.
“The exponential growth momentum in Retail demonstrates the leverage created across people, branches and technology over the past few years and is further expected to increase granularity in Bank’s asset and liabilities over the quarters to come.
“The Bank has also received approval from SEBI to commence its ‘Mutual Fund Business’ which will complement and further augment Bank’s Retail Liabilities and Wealth Management product offerings,” he said.
The other key highlight of the quarter was Bank’s continued resilience in Asset Quality and resolution capabilities as demonstrated through recoveries in NPA and Security Receipts book resulting in decline in total Stressed Assets to 1.52% aggregate.
“YES Bank’s sustained performance and inherent franchise strength has also been corroborated by Bank’s recent rating upgrade to AAA by CARE which will provide further impetus to Bank’s superior performance, overall Cost of Funds reduction and enable it to capture market share at an increasing pace” said Kapoor.
https://www.yesbank.in/about-us/investors-relation/financial-information/financialresults
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