YESBANKNSEQ4FY26April 24, 2026

Yes Bank Limited

6,575words
66turns
8analyst exchanges
5executives
Management on call
Vinay M. Tonse
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
Rajan Pental
EXECUTIVE DIRECTOR
Manish Jain
EXECUTIVE DIRECTOR
Niranjan Banodkar
CHIEF FINANCIAL OFFICER
Sunil Parnami
HEAD INVESTOR RELATIONS AND SUSTAINABILITY
Key numbers — 40 extracted
rs,
express my sincere appreciation for Mr. Prashant Kumar, my predecessor. Over the past several years, he led YES Bank through a multi- year and truly unique transformation. His leadership was pivotal i
INR 3,476 crore
Balance-Sheet quality. 1. For the full year FY26, Net Profit stood at INR 3,476 crores, up 44.5% over FY25,Net Profit of INR 2,406 crores, supported by continued improvement in our
44.5%
. 1. For the full year FY26, Net Profit stood at INR 3,476 crores, up 44.5% over FY25,Net Profit of INR 2,406 crores, supported by continued improvement in our operating p
INR 2,406 crore
1. For the full year FY26, Net Profit stood at INR 3,476 crores, up 44.5% over FY25,Net Profit of INR 2,406 crores, supported by continued improvement in our operating performance. Return on Assets (ROA) for the
0.8%
inued improvement in our operating performance. Return on Assets (ROA) for the full year was at 0.8% versus 0.6% in FY25. 2. For Q4FY26, the Bank reported a Net Profit of INR 1,068 crores, reflectin
0.6%
ement in our operating performance. Return on Assets (ROA) for the full year was at 0.8% versus 0.6% in FY25. 2. For Q4FY26, the Bank reported a Net Profit of INR 1,068 crores, reflecting a strong
INR 1,068 crore
the full year was at 0.8% versus 0.6% in FY25. 2. For Q4FY26, the Bank reported a Net Profit of INR 1,068 crores, reflecting a strong growth of approximately 44.7% over the Net Profit of INR 738 crores in th
44.7%
, the Bank reported a Net Profit of INR 1,068 crores, reflecting a strong growth of approximately 44.7% over the Net Profit of INR 738 crores in the corresponding quarter of the previous year. In line
INR 738 crore
fit of INR 1,068 crores, reflecting a strong growth of approximately 44.7% over the Net Profit of INR 738 crores in the corresponding quarter of the previous year. In line with our guidance, Bank reported an
1%
quarter of the previous year. In line with our guidance, Bank reported an ROA for the quarter of 1%. 3. Talking of our Net Interest Income and NIM. NII for the quarter was INR 2,638 crores, which
INR 2,638 crore
ROA for the quarter of 1%. 3. Talking of our Net Interest Income and NIM. NII for the quarter was INR 2,638 crores, which was up 15.9% Y-o-Y. 4. Despite adverse interest rate environment and elevated competitive
15.9%
alking of our Net Interest Income and NIM. NII for the quarter was INR 2,638 crores, which was up 15.9% Y-o-Y. 4. Despite adverse interest rate environment and elevated competitive intensity in Depos
Guidance — 20 items
Vinay M. Tonse
opening
“As part of my opening remarks, I will briefly cover my first impressions of the Bank, our take on the current operating environment and key highlights of our quarter 4 as well as the full year FY26.”
Vinay M. Tonse
opening
“Going forward, we will build on what is working well, strengthen areas that require more attention and pursue growth that is thoughtful, calibrated and also sustainable.”
Vinay M. Tonse
opening
“To the third part now, I would now share some of the key highlights of our quarter 4 and also the full year FY26 performance.”
Vinay M. Tonse
opening
“Despite the ever-evolving macro environment, the Bank closed FY26 with stable and improving financial performance, underscoring our progress on Profitability, productivity and Balance-Sheet quality.”
Vinay M. Tonse
opening
“For the full year FY26, Net Profit stood at INR 3,476 crores, up 44.5% over FY25,Net Profit of INR 2,406 crores, supported by continued improvement in our operating performance.”
Vinay M. Tonse
opening
“Return on Assets (ROA) for the full year was at 0.8% versus 0.6% in FY25.”
Vinay M. Tonse
opening
“In line with our guidance, Bank reported an ROA for the quarter of 1%.”
Vinay M. Tonse
opening
“Even for the full year, the NIM at 2.6% improved 20 basis points vis-a-vis FY25 and in line with our guidance given in Q4 of FY25.”
Vinay M. Tonse
opening
“Net Interest Income for FY26 at INR 9,776 crores grew 9.3% year-on-year.”
Vinay M. Tonse
opening
“In line with our guidance in FY26, the Bank had a second straight year of 100% compliance in PSL and all of its subcategories, which resulted in notable reduction of RIDF and other mandated Deposits to approximately 6% of Total Assets vis-a-vis 9% as at the end of FY25.”
Risks & concerns — 9 flagged
The decline has been in line with our broad guidance to gradually keep bringing down our Cost-to-Income Ratio, and we expect the momentum to continue.
— Vinay M. Tonse
Together, these trends underscore the resilience of our asset book and the effectiveness of our ongoing credit risk management efforts.
— Vinay M. Tonse
We remain focused on balanced and Profitable growth across Retail, Commercial and Wholesale businesses, supported by disciplined risk selection and effective pricing.
— Vinay M. Tonse
Anantharaman as the Chief Risk Officer of the Bank.
— Vinay M. Tonse
He is an industry veteran with over three decades of experience with rich experience, rich expertise in the risk management domain.
— Vinay M. Tonse
So as a market philosophy, we don't run very high open risk through our trading book, whether it's bonds or for that matter even FX.
— Niranjan Banodkar
Would the decline be sort of linear or would it be accelerated post 1-year?
— Advait Date
And how do you factor the stress over there?
— Shreyanth
They have not shown any signs of stress.
— Manish Jain
Q&A — 8 exchanges
Q
Congratulations sir for good set of results. The first question will be going ahead given that I know it's a short stint so far, but how are you looking at growth in the Bank for the next 1 year? Is there anything you're waiting for to accelerate in terms of any of the Balance Sheet metrics? Or do you think we can start with 15% plus growth? And second, of course, is that if you could help us with the average CASA growth in quarter 4. And compared to the loan growth, maybe the CASA has held up despite the rate cuts, but how do we sort of grow that in line maybe in that 14% to 15% on an average
Niranjan Banodkar
So, I'll start with the CASA growth on the average basis. So, on both CA and SA have sequentially grown in the range of about 4%. In fact, CA sequential growth has been slightly more than 4%, but blended is about 4%. And if I actually look at Term Deposits growth, and I'm excluding the CDs that we ended up raising as well, the Term Deposits also have grown big picture at about 4%. So, if I were to characterize the growth for quarter 4 across the Deposits, it's broadly anchored around a 4% CASA and TD. So, I think we're kind of maintaining the CASA ratio at least from an average performance van
Q
Good afternoon everyone and Congratulations on a good quarter. Sir, first question is on your growth mix, right? So, we have achieved 1% ROA, Asset Quality seems to be holding up reasonably well. But Retail Slippages, while they are improving, they are still 2.93%. And we see that Retail Advances are both up 4% to 5% on both Q-o-Q, Y-o-Y basis. Given the SMBC induction as the largest shareholder, do you envisage any change in the loan mix between Retail, Wholesale, Commercial as you move towards industry level growth? So that is question number one.
Niranjan Banodkar
So, on the growth mix, I think important to note is the Retail Disbursement growth because that's really an important controllable that we have, which we are driving faster. So, if you look from a Y-o-Y perspective, in fact, we are kind of way above a 20% Y-o- Y growth. We do believe that it should ultimately get normalized in the 20-25% range. But what we are aiming to grow the Retail Book next year is actually should hit the double-digit growth. So, let's say, about 10% to 11% is what we do believe it should deliver. If I look at the Corporate Book, that's already growing at about 20%. So, w
Q
Thanks for the opportunity. Congrats on the good set of numbers. A few of my questions have been already answered. I had one question I wanted to get some color on. So I wanted to understand a little on our branch expansion strategy. So for the full year, we have added around 82 new branches. I wanted to understand how the contribution of Retail Disbursements has been for the quarter from branches? And as we move to the next leg of growth, how are we looking at branch expansion, which locations we are prioritizing and how that aligns with the loan sub-segments we are trying to prioritize growt
Rajan Pental
For your question, so we had laid out a guidance for the next 4 to 5 years with a plan of around 400 branches with an average of around 80 branches per annum, and we are on course of that. We opened around 82 branches last year. And we would be going ahead with that plan depending on if there is any upside available to do that. That is point number one. Point number two is on the disbursements. Our internal customer sourcing is approximately 50% of the overall disbursals we do. Out of that, approximately 60% actually comes from the branches through the branch customers. So we would like to see
Q
Yes. Good evening, gentlemen.
Vinay M. Tonse
Mr. Dev. Good evening. Yes, good evening, everyone. Congratulations on an excellent set of numbers. Thank you so much. It seems that the performance has been improving quarter-on-quarter, and it's very pleasant to be part of your story. My question is by the next year, what is your target balance sheet size in terms of loan book? So, we've said we've not put out a specific numerical target. We've said that we will want to have a growth rate in line with the industry, if not be better. And that -- our expectation is that should be in the 13% to 15% range. What percentage, I missed it. Sorry? 13
Q
Good evening, everyone. So hearty congratulations, Vinay sir, for becoming a new MD and CEO of YES Bank. And yes, the numbers have been very good. I mean yes, the NPA Asset Quality and also look now Deposits like 2020, where we were under 2026, it's like 3x growth, very good. And also like the Profits also looking promising, like last year, like whatever management guided that ROA, we have exited 1%. So basically, my question is like so this ROA like I mean, FY27 and FY28, FY29 in the upcoming years. So, I think we hope we maintain 1% ROA and also like on top of that, that number will grow qua
Niranjan Banodkar
So, thank you very much, sir, and thank you for being quite supportive on the Bank. So, we really value that. Thank you for that. On the question on ROA, we've said this that March '26, we will look to exit with a 1% ROA. And I did also allude to that in my previous response. I think the most important thing is now to sustain this 1% ROA. Of course, there is a play that we also have from provision write-back of JC Flowers ARC. But what we have very emphatically worked upon internally is to say, internal, outside of the JC Flowers ARC write-backs, we will look to improve our ROA 25 to 50 basis
Q
Congratulations on maintaining the growth momentum of performance. This is heartening. Can you give us an update on the AT1 bonds case? And what do you think would be the impact on the Balance Sheet in the case of an adverse judgment?
Niranjan Banodkar
So, on the AT1 matter, this matter is subjudice, as you all know. The hearings have taken place at the Supreme Court, and the matter is also reserved for judgment. We will wait to hear from the Supreme Court -- Honorable Supreme Court on the verdict. And we will make sure that we are also coming back to all our stakeholders and updating them on what the outcome and its impact on the Bank would be. I would refrain from passing a judgment on what we expect. We stated this earlier as well. We do believe the actions we took were in line with the contractual obligations and the processes that were
Q
Firstly, congrats on an amazing result. I just want your quick view on the West Asia war and its impact on the MSME segment, given that it's one of your key growth drivers. So where do you see that? Are you still planning to continue growing it? And how do you factor the stress over there?
Manish Jain
Sure. Thanks. So, we are proactively monitoring our portfolio, and this is the exercise that we've already started. It's good to report that all our clients, whether it's an MSME or larger clients have been managing well. They have not shown any signs of stress. But this is a space that we will continue to watch because it will have an impact on the inflation and there can be second order impact. So, we continue to monitor our portfolio closely and talk to our clients to understand the impact and the actions that they're going to take. Currently, since we have had a good client collections ove
Q
Yes. Thank you so much, and I must place my sincere appreciation on record for all the esteemed analysts who could make it today. I know it's -- of course, it's a Saturday afternoon and also a very busy day because the other 2 Banks also that came in today. I appreciate you taking time off and then coming and joining us. Thank you very much.
Management
Speaking time
Niranjan Banodkar
20
Moderator
10
Jai Mundhra
9
Dev Dey
8
Vinay M. Tonse
6
Advait Date
3
Rama Subba Reddy
3
Jayant Kharote
2
Management
1
Rajan Pental
1
Opening remarks
Vinay M. Tonse
Yes. Thank you very much. And at the outset, our apologies for getting into this meeting a little late. We got stuck in some other meetings today. Sincere apologies for that. But formally to start, good afternoon, everyone, and thank you for joining us for the YES Bank Quarter 4 and Full Year FY26 Earnings Conference Call. While I have interacted with many of you in my earlier role, this is my first earnings interaction as the MD and CEO of the YES Bank, and I'm very pleased to join you today along with my senior leadership team and I also look forward to building a long-term engagement with all of you. As part of my opening remarks, I will briefly cover my first impressions of the Bank, our take on the current operating environment and key highlights of our quarter 4 as well as the full year FY26. But, at the outset, I would like to express my sincere appreciation for Mr. Prashant Kumar, my predecessor. Over the past several years, he led YES Bank through a multi- year and truly uniqu
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