YES Bank Q4 net up 19 pc at Rs 430 cr; to raise upto $500m

Private sector lender YES Bank today posted a 18.8 per cent jump in net

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profit at Rs 430.21 crore for the fourth quarter ended March 31, 2014.

The bank had a net profit of Rs 362.15 crore in the same quarter of the previous fiscal.

Total income of the bank rose to Rs 3,013.57 crore in January-March quarter as compared to Rs 2,667.03 crore in the same period previous fiscal, YES Bank said in a statement.

Net Interest Income improved by 12.8 per cent to Rs 719.6 crore as against Rs 638.1 crore in the year-ago period.

The bank proposed a dividend of 80 per cent, or Rs 8, per share for 2013-2014.

The board has also approved a proposal to raise funds by way of issuance of equity up to $500 million in one or more tranches.

The issuance may be by way of Qualified Institutions Placement (QIP) or any other international offering like Global Depository Receipts (GDRs)/American Depository Receipts (ADRs), or by any other appropriate mode as decided by the bank, it said.

For the entire fiscal ended March, 2014, the bank's net profit grew by 24.4 per cent at Rs 1,617.78 crore, compared to Rs 1,300.7 crore in the corresponding fiscal.

Total income increased to Rs 11,702.93 crore during the year, compared to Rs 9,551.43 crore in the earlier fiscal.

Net Interest Margin (NIM) remained unchanged at 3 per cent at the end of March 2014. At the same time, Capital Adequacy Ratio of the bank stood at 14.4 per cent during the period.

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