Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Yes Bank posts 21% profit rise, set for 2014 UAE foray  Join our daily free Newsletter

MENAFN - Khaleej Times - 19/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) In an emailed statement toKhaleej Times on Saturday, India's fourth largest private sector bank reported Rs4.15 billion net profit for the December quarter supported by a higher net interest income and lower provisioning compared to Rs3.42 billion announced in the corresponding quarter of the last year. The lender's net interest income in the third quarter increased year-on-year nearly 14 per cent to Rs6.65 billion



"Yes Bank has recently received approval from the UAE Central Bank ". to set up a representative office in Abu Dhabi, UAE which will be the bank's maiden international beginning," Rana Kapoor, managing director and chief executive officer of Yes Bank said in the statement. Commenting on the results and financial performance, Kapoor said: "Yes Bank has delivered a satisfactory quarter of financial performance despite a challenging economic environment.



During the year the bank has further invested in its branch network, which is generating increasing granular and CASA deposits. The bank has maintained NIMs and delivered consistent RoA and RoEs despite the tightening interest rate environment, Kapoor said, adding: "The bank continues to generate satisfactory returns resulting in improving Core Tier I as per Basel III norms.



The bank managed to keep the net interest margins (NIMs) steady at 2.9 per cent, though on year-on-year basis, NIMs fell 10 basis points from 3 per cent. Non-interest income at the bank was up 23.9 per cent year-on-year at Rs3.88 billion. The bank's non-interest income grew by 23.9 per cent year-on-year to Rs3.88 billion for on the back of continued growth across all fee income streams



Stable growth in advances and deposits recorded as total advances grew by 14.7 per cent to Rs502.99 billion as at December 31, 2013. Corporate & Institutional Banking accounted for 68 per cent of the customer assets portfolio, Commercial Banking accounted for 14.7 per cent and Retail Banking at 17.3 per cent



Total deposits grew by 20.7 per cent to Rs680. 60 billion as at December 31, 2013. The Bank's Balance Sheet grew by 16.5 per cent to Rs1.014 trillions at December 31, 2013

 


Khaleej Times




  MENA News Headlines
 Feb 1 2015 - HMG wins Excellence Prize for patient care from Arab HealthArab News
(MENAFN - Arab News) Dr. Sulaiman Al-Habib Medical Group (HMG) continues its noticeable attendance in the Arab Health Exhibition in Dubai this year as it has been rewarded with the Excellence Prize ...

 Feb 1 2015 - How to get a job done for 5 onlyArab News
(MENAFN - Arab News) It sounds like a crazy idea but you can actually get a brand new logo for your company or get 250 words translated or 1500 words proofread or your personal piano player for just ...

 Feb 1 2015 - Etihad Airways appoints first female Emirati airport managerArab News
(MENAFN - Arab News) Etihad Airways the national airline of the UAE has appointed Fatima Al-Kharousi as the first Emirati female airport manager. Based in Nagoya Japan she will be responsible for ...

 Feb 1 2015 - Saudi- Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Israeli occupation forces Arrest 10 Palestinian in West BankQatar News Agency
(MENAFN - QNA) Israeli occupation forces arrested since dawn today10 Palestinians in the West Bank amid heavy gunfire during incursions into the West Bank cities of Hebron, Bethlehem and ...

 Feb 1 2015 - 'Qatar Green Building Conference' to Take Place in Doha in AprilQatar News Agency
(MENAFN - QNA) Qatar Green Building Council (QGBC), a member of Qatar Foundation for Education, Science and Community Development (QF), has announced its upcoming inaugural annual conference. The ...

 Feb 1 2015 - Jordanian Government Condemns Execution of Japanese HostageQatar News Agency
(MENAFN - QNA) The Jordanian government strongly condemned on Sunday Daash killing of Japanese hostage journalist Kenji Goto. Jordanian Minister of Information Affairs and Government Spokesman Dr. ...

 Feb 1 2015 - Qatar Armed Forces General Command Issues Precautionary WarningQatar News Agency
(MENAFN - QNA) Qatar Armed Forces General Command forces has announced that the marine shooting range (O.B.D-28), located east of Mesaieed near Fasht Al-Hadid, will be active during the period from ...

 Feb 1 2015 - Qatar Computing Research Institute, Boeing to Host MLDAS 2015 in MarchQatar News Agency
(MENAFN - QNA) Building on the overwhelming success of last year's inaugural symposium, Qatar Computing Research Institute (QCRI) and Boeing are once again partnering to host the second edition of ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help