Yes Bank (YESBANK) Q4 24/25 earnings summary

Executive summary

• Net profit for FY 2025 reached INR 2,406 crores, up 92.3% year-over-year, the highest since March 2020, with Q4 net profit at INR 738 crores, up 63.3% YoY.

• Five-year transformation included 2.7x deposit growth, 3.5x CASA growth, and significant asset quality improvement.

• Maintained leadership in digital payments, ranking #1 UPI Payee PSP and #2 UPI Payer PSP.

• Audited standalone and consolidated financial results for FY25 were approved with unmodified audit opinions.

• Cumulative capital raise of ~INR 24,000 crores since 2020, with strong stakeholder and rating agency endorsement.

Financial highlights

• Net interest income for FY25 was INR 8,944 crores, up 10.5% YoY; non-interest income was INR 5,857 crores, up 14.5% YoY.

• Pre-provisioning operating profit grew 25.6% YoY to INR 4,254 crores; cost-to-income ratio improved to 71.3%.

• Provision coverage ratio rose to 79.7% (excl. technical write-offs), 87.6% (incl. technical write-offs).

• Gross NPA at 1.6% and net NPA at 0.3%, both best since March 2020.

• Standalone capital adequacy ratio (Basel III) at 15.6% as of March 31, 2025.

Outlook and guidance

• Targeting loan growth of 12% to 15% over the next year, with capital deemed sufficient.

• ROA expected to exceed 1% by FY 2027 and reach 1.5% by FY 2029 or FY 2030.

• NIM targeted to expand from 2.4% to above 3.5% over the medium term.

• Focus on profitability-driven growth, cost efficiency, digital transformation, and risk containment.

• Recovery expectations for FY26: INR 1,000 crores from security receipts and INR 2,000 crores from written-off/NPA assets.