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					                                                                                             Regd off: 9, Nehru Center, Discovery of India, Dr. A. B. Road, Worli, Mumbai-18
YES BANK                                                                                     E-Mail:    sanjeev.kapoor@yesbank.in
                                                                                             Web site: www.yesbank.in
                                                                                             Telephone: (022) 6669 9000 Fax: (022) 6669 9155
BANKING                                                             MISCELLANEOUS            Tr agent: Karvy Computer, Plot 17-24 Vittalrao Nagar, Madhapur, Hyderabad-81
Chairman: Rana Kapur                                                            SEC: Sanjeev Kapoor                                    AUD: B. S. R & Co
Yr of Inc   B. Code      BL. Code      F.V.         Price        % ch 1-m       % ch 12-m      P/E       P/CF           Yield         Mkt cap                Vol.             ISIN
 1998   532648             YES:IN      10           167.3          2.8            23.1         10.7      16.4            0.0          49,686.6              159.2        INE528G01019
SHAREHOLDING                                                      FX Transaction (FY09)                             ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 30.9%                Exports (fob)          Rs m        0                (Rs)
Foreign collaborators      :   0.0%               Imports (cif)          Rs m        0
Indian inst/Mut Fund       :   8.2%               Fx inflow              Rs m        0         320
FIIs/GDR                   : 45.8%                Fx outflow             Rs m        0                                                                        DAILY
Free float                 : 15.1%                Net fx                 Rs m        0
Shareholders               : 109,186                                                                                                                          100 DMA
                                                                                               240
                           No. of months                   12            12            12
                             Year ending             31/03/07      31/03/08      31/03/09
EQUITY SHARE DATA
                                                                                               160
High                                   Rs                 162            265          179
Low                                    Rs                  70            126            42
Income per share                       Rs                21.0           44.1         67.5
Earnings per share                     Rs                 3.4             6.8        10.2       80
Cash flow per share                    Rs                11.0           20.4         27.7
Dividends per share                    Rs                0.00           0.00         0.00
Avg Dividend yield                     %                  0.0            0.0          0.0
                                                                                                 0
Book value per share                   Rs                28.1           44.6         54.7
Shares outstanding (eoy)               m              280.00         295.79       296.97         Aug-06             Jun-07            Feb-08            Nov-08                Aug-09
Bonus/Rights/Conversions                                   PP             PP        ESOP
Avg Price / Income ratio               x                   5.5            4.4          1.6                               No. of months                 12            12             12
Avg P/E ratio                          x                 34.4           28.9         10.8                                  Year ending           31/03/07      31/03/08       31/03/09
                                                                                              CASH FLOW
Avg P/CF ratio                         x                 26.4           23.7           9.0
Avg Price/Bookvalue ratio              x                  4.1             4.4          2.0    From Operations                         Rs   m     -18,014            -1,965      -3,646
Dividend payout                        %                  0.0            0.0           0.0    From Investments                        Rs   m     -12,227              -495        -602
Avg Mkt Cap                            Rs m            32,480         57,827       32,815     From Financial Activity                 Rs   m       4,986             5,807       7,199
No. of employees                       `000                  2              3            3    Net Cashflow                            Rs   m      10,773             3,347       2,951
Total wages & salary                   Rs m             1,175          2,024        2,180
Avg. income/employee                   Rs Th          2,405.2        4,141.9      7,500.2                                       INTERIM RESULTS
Avg. wages/employee                    Rs Th            481.0          642.5        816.2                                           2QFY09  3QFY09              4QFY09         1QFY10
Avg. net profit/employee               Rs Th            386.4          634.9      1,137.4     Operating income            Rs    m     4,897   5,327               5,663          5,427
                                                                                              Gross Profit                Rs    m     1,226   1,204               1,552          1,638
INCOME DATA                                                                                   Gross profit margin         %            25.0     22.6               27.4           30.2
Interest income                        Rs     m         5,876        13,047        20,033     Net profit                  Rs    m       636   1,058                 802          1,001
Other income                           Rs     m         1,946         3,606         4,350     Net profit margin           %            13.0     19.9               14.2           18.4
Interest expense                       Rs     m         4,163         9,741        14,921
Net interest income                    Rs     m         1,713         3,306         5,112                                           KEY DATA
Operating expense                      Rs     m         1,935         3,412         4,185     Parameters                          Unit              FY07             FY08        FY09
Gross profit                           Rs     m          -222          -106           927     Branches                            nos.                 40               67         117
Gross profit margin                    %                  -3.8          -0.8           4.6    Employees                           nos.              2,443            3,150       3,150
Provisions/contingencies               Rs     m           287           436           617     Business / branch                   Rs m              1,572            1,407       1,198
Profit before tax                      Rs     m         1,437         3,065         4,659     Profit / employee                   Rs m                 0.4              0.6         1.1
Extraordinary Inc (Exp)                Rs     m              0             0             0    NIM                                 %                    2.8              2.9         2.7
Minority Interest                      Rs     m              0             0             0
                                                                                                                                     NOTES
Prior Period Items                     Rs     m              0             0             0
Tax                                    Rs     m           493         1,065         1,621    Yes Bank, which received its banking license (the only greenfield license given by RBI
Profit after tax                       Rs     m           944         2,000         3,038    in the last 10 years) in May 2004, commenced its lending operations in October 2004.
                                                                                             In FY09, the bank operated through 67 branches and was largely concentrated on
Net profit margin                      %                 16.1          15.3          15.2
                                                                                             the corporate segment for its advances portfolio. Yes Bank has adopted a knowledge-
BALANCE SHEET DATA                                                                           based product delivery, wherein it has put together a team of experienced
                                                                                             professionals with sector and banking product knowledge.
Advances                               Rs     m        62,897        94,303       124,031
Deposits                               Rs     m        82,204       132,732       161,694    Although slower than the growth rate of 50% YoY clocked in advances in FY08, Yes
Credit/Deposit ratio                   x                 76.5          71.0          76.7    Bank's 35% YoY growth in advances during FY09 was nearly twice the sector growth
Yield on advances                      %                  6.7            9.9         12.0    rate. The incremental growth was, however, limited to the large corporate borrowers.
Cost of deposits                       %                   4.0           6.4           7.6   The bank still has no exposure to mortgages, credit cards and auto loans. CASA
Net Interest Margin                    %                   2.8           2.9           2.7   (current and savings accounts) as a proportion of total deposits improved from 8.5%
Net fixed assets                       Rs     m           709         1,012         1,311    in FY08 to 8.7% in FY09 mainly due to a larger franchise. The proportion of Yes
Share capital                          Rs     m         2,800         2,958         2,970    Bank's non-funded income to total income dropped to 37% in FY09 from 50% in
Free reserves                          Rs     m         4,664         9,223        10,832    FY08. The fall can be largely attributed to significant drop in revenues from financial
                                                                                             advisory and third party sales businesses.
Net worth                              Rs     m         7,871        13,189        16,242
Borrowings                             Rs     m         8,673         9,862        21,891    The bank sees the mix of 55:45 between corporate and SME assets in the corporate
Investments                            Rs     m        30,731        50,937        71,170    credit book to go up to 60:40 in FY10, with retail assets also acquiring a minor
Total assets                           Rs     m       111,034       169,824       229,008    allocation. Yes Bank expects its margins to hover between 2.5% to 3.0% in FY10 and
Debt/equity ratio                      x                 11.5          10.8          11.3    is targeting CASA base (9% of deposits in FY09) to comprise 12.5% of its deposits
Return on assets                       %                   0.9           1.2           1.3   by FY10. The bank sees the current mix of NII and non-funded income to be 55:45
Return on equity                       %                 12.0          15.2          18.7    on a more normalised basis by FY11. The focus on niche high-end customer segment
Capital adequacy ratio                 %                 13.6          13.6          16.6    may also enable the bank to retain its high asset quality (0.7% net NPAs in FY09).
Net NPAs                               %                   0.0           0.1           0.7


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