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Wednesday, August 01, 2007

Yes Bank - Net Soars 114%

Yes Bank Q1 Earnings Jump 2.13 Times

Yes Bank registered a substantial 2.13 times growth in earnings for the quarter ended June 2007, helped by strong revenue growth. During the quarter, the company witnessed a rise in profit to Rs 360 million from Rs 168.8 million in the same quarter, last year.

Interest earned for the quarter climbed 2.95 times to Rs 2,725.3 million, while the total income for the quarter rose 2.69 times to Rs 3,484.9 million, when compared with the corresponding quarter, a year ago.

The earnings per share for the quarter climbed 2.05 times to Rs 1.29 compared with the same quarter, a year ago.

During the quarter, the bank raised upper tier II debt of Rs 20 million to augment long term capital resources and to enhance the capital adequacy ratio (CAR) for successfully implementing its growth plans.

Yes Bank is a private-sector bank, engaged in the business of providing corporate & institutional banking, business & retail banking and private wealth management services.

Labels: Yes Bank

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