Yes Bank Limited · NSE:YESBANK
Yes Bank — Q3 FY26 Earnings Presentation
65 slides from Yes Bank's earnings presentation, Feb 24, 2026
Slide 1: Exchange cover letter: Submission of Investor Presentation
YBL/CS/2025-26/192 February 24, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot no. C/1, G Block, Corporate Relations Department Bandra - Kurla Complex, Bandra (E) P.J. Towers, Dalal Street Mumbai - 400 051 Mumbai – 400 001 NSE Symbol: YESBANK BSE Scrip Code: 532648 De
Slide 2: Investor Presentation February 2026
INVESTOR PRESENTATION February 2026
Slide 3: Disclaimer
Disclaimer No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain sta
Slide 4: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 3
Slide 5: India continues to be the fastest growing major economy
India continues to be the fastest growing major economy IMF growth forecasts for 2026 & 2027 RBI expects real GDP growth to remain in excess of 7% Real GDP (% YoY) 12.0 9.7 9.2 10.0 8.0 8.3 2024 2025E 2026P 2027P 7.4 6.8 7.6 7.4 7.0 8.0 6.4 6.5 6.5 5.5 Advanced Economies 1.8 1.7 1.8 1.7 6.0 3.9 4.0
Slide 6: Inflation has remained within RBI's target band
Inflation has remained within RBI’s target band IMF inflation forecasts for 2025 & 2026 India’s retail inflation averaged 4.6% in FY25 %YoY Inflation (% YoY) 9 2024 2025 2026P 8 Inflation Targeting Band 7 Upper end Advanced Economies 2.6 2.5 2.2 6 5 Emerging Market Economies 7.9 5.3 4.7 4 3 India 4.
Slide 7: Banking system in India remains resilient (1/2)
Banking system in India remains resilient (1/2) Improving credit penetration in India, yet further headroom for expansion exists Domestic bank credit (% of GDP) 2021 2024 2027P • India's credit-to-GDP ratio, though increasing has consistently remained below global benchmarks, trailing Advanced Econo
Slide 8: Banking system in India remains resilient (2/2)
Banking system in India remains resilient (2/2) Gross advances continue to increase (INR lakh Crs) Decadal best Asset Quality … … Profitability… 200.0 25% Gross NPA Net NPA RoA Key levers: 180.0 1.4 • Corporate segment - IBC has been a game 1.3 160.0 20% changer with reduction in resolution cycles 1
Slide 9: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 8
Slide 10: India's New-Age Private Sector Bank
India’s New-Age Private Sector Bank INR 2.57 Lac Crs| 73% Diversified INR 2.93 Lac Crs | 59% Loan Book | Share of Retail & Total Deposits | Share of Retail and Commercial Bank2 Balance Sheet Branch Banking led Deposits Digital Leadership Processes every 1 in 3 Digital Transactions in India; Preferre
Slide 11: Strong Institutional Sponsorship - catalyst for next phase of Growth
Strong Institutional Sponsorship- catalyst for next phase of Growth Overview SMBC is the largest shareholder with 24.9% stake2 Sumitomo Mitsui Banking Corporation (“SMBC”) became YES Bank’s largest shareholder through the acquisition of 24.9% stake from SBI, other Investor Banks1 and separately from
Slide 12: Responsible franchise with sustainability at its core
Responsible franchise with sustainability at its core Robust ESG & Climate Governance Performance on ESG Ratings CSR & ESG Committee of Sustainability Council: Sustainable Finance (SF) Purpose-led Culture: the Board: Highest Executive committee that Unit: Implements Bank’s Domain-specific ESG KPIs g
Slide 13: Robust Governance Structure – Board Members
Robust Governance Structure – Board Members Eminent and Experienced Board Rama Subramaniam Gandhi Atul Malik Sharad Sharma Rekha Murthy Nandita Gurjar Non-Executive, Part time Chairman, Independent Director Independent Director Independent Director Independent Director Independent Director Prashant
Slide 14: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 13
Slide 15: Unique Turnaround Story: An Analysis (1)
Unique Turnaround Story: An Analysis (1) FY15-19: Strong Corporate Led Loan Growth, Impact Further Aggravated by Externalities .. Led By Concentrated Corporate ..Led To Asset Quality Challenges and Strong Strong Balance balance sheetSheet Growth.. growth Exposures.. Deposits Outflow Slippages of lar
Slide 16: Unique Turnaround Story: An Analysis (2)
Unique Turnaround Story: An Analysis (2) All figures in INR Cr Amidst Challenging Backdrop Strong Growth Phase till FY18 Extreme Stress Conditions – Bank now on the path of delivering Moratorium imposed in Mar’20 Mar’ 20 Apr’ 21 Jan’ 22 Onwards Profitable Growth (Data below for FY18) (Data below for
Slide 17: Unique Turnaround Story: Credit Rating (3)
Unique Turnaround Story: An Analysis – Credit Rating (3) International Rating Long-term Outlook Short-term Key Elements Driving Rating Changes Moody's Investors Service Ba2 Stable Not Prime • Strategic Investment & Governance • Robust capitalization Domestic Rating Basel III Tier II & Infra Bonds (L
Slide 18: Unique Turnaround Story: An Analysis (4)
Unique Turnaround Story: An Analysis (4) Shareholding Pattern Evolution Part of BSE Sensex 30, Nifty 50, Bank Nifty, MSCI India, Part of Bank Nifty, BSE Next 50, BSE 100, Nifty Midcap Excluded from all major indices MSCI EM, MSCI ESG EM, FTSE4Good 50, MSCI India, MSCI EM, MSCI ESG EM, FTSE4Good FY18
Slide 19: Unique Turnaround Story: Deposits and Liquidity (5)
Unique Turnaround Story: Deposits and Liquidity (5) All figures in INR Crs Improvement in granularity– declining share of Top 20 Share of Retail and Branch led Banking Deposits (in Depositors total deposits) rising LCR Levels remain healthy Top 20 Depositors Share of Retail & Branch Banking Led LCR
Slide 20: Unique Turnaround Story: Advances & Borrowings (6)
Unique Turnaround Story: Advances & Borrowings (6) All figures in INR Crs Consistent improvement in CD Ratio: sustaining at healthy levels of ~85% over last 3 years Granularization in Advances led by… Retail + Commercial Corporate 102.4% 27.0% 25.0% 26.3% 27.4% 40.0% 48.9% 91.8% 92.0% 73.0% 75.0% 73
Slide 21: Unique Turnaround Story: PSL Shortfall Deposits (7)
Unique Turnaround Story: PSL Shortfall Deposits (7) All figures in INR Crs PSL Shortfall – Nil across sub categories PSL Shortfall Deposit balance peaked, substantial increase basis past shortfall SMF NCF WS PSL Shortfall Deposits % of Total Assets 8.4% 50,000 15.0% 7.8% 45,000 44,087 13.0% 40,000 3
Slide 22: Unique Turnaround Story: Capital (8)
Unique Turnaround Story: Capital (8) All figures in INR Crs Demonstrated ability to raise capital despite headwinds; RoE to fund growth ahead 1 15,000 New Capital Raised 10,000 6,042 2,845 * FY20 FY21 FY22 FY23 FY24 FY25 * Warrant conversion Reduction in RWA / Total Assets CET I accretion aided by C
Slide 23: Unique Turnaround Story: Asset Quality (9)
Unique Turnaround Story: Asset Quality (9) All figures in INR Crs Significant improvement in GNPA NNPAs now amongst the lowest vis-à-vis peers SRs fully provided for (O/S FV of JCF SRs: 1,814 Crs)1 GNPA GNPA % NNPA NNPA % Net Security Receipts % of Net Advances 12,000 9.0% 35,000 25.0% 9,813 8.0% 3,
Slide 24: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 23
Slide 25: Balance Sheet Structure: Implications for P&L
Balance Sheet Structure: Implications for P&L Inherent issues in the Balance Sheet structure. However, consistent improvement over last few years YES BANK Mid Sized Private Banks Large Private Banks As % of Assets As % of Assets As % of Assets FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 FY23 FY24 FY
Slide 26: P&L Structure: Comparison to peers
P&L Structure: Comparison to peers YES BANK Mid Sized Private Banks Large Private Banks Lower Advances / Assets As % of Assets As % of Assets As % of Assets impacting Interest Income FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 Higher Yield Corp. book Interest Income 6.7% 7.3% 7
Slide 27: Recent Progress on RoA has been encouraging
Recent Progress on RoA has been encouraging Strategic intervention over last 6-8 quarters have started reflecting in outcomes Dupont Ratios FY23 FY24 FY25 9MFY26 Q3FY26 NII/ Avg. Assets 2.4% 2.1% 2.2% 2.2% 2.3% Non Interest Income/ Avg. Assets 1.1% 1.3% 1.4% 1.6% 1.5% Total income/ Avg. Assets 3.4%
Slide 28: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 27
Slide 29: Results At a Glance – Q3FY26
Results At a Glance – Q3FY26 All amounts in INR Crs Arrows indicative of Y-o-Y trends Total Assets Advances Deposits CD Ratio Advances Mix1 Disbursement2 Retail : Commercial: Corp. & Insti. 426,007 257,451 292,524 88.0% v/s. Banking (CIB) 26,982 47%:26%:27% (0.7%) : Q-o-Q 2.9% : Q-o-Q (1.3%) : Q-o-Q
Slide 30: Highlights for Q3FY26 (1)
Highlights for Q3FY26 (1) 1 Balance Sheet Highlights 2 ▪ Advances at INR 2,57,451 Crs; maintained sequential growth momentum at 2.9% QoQ and 5.2% Y-o-Y ▪ Total Disbursements at INR 26,982 Crs up 7% YoY, led by sustenance of growth momentum in Retail assets- Disbursements up ~15% Y-o-Y ▪ Strong growt
Slide 31: Highlights for Q3FY26 (2)
Highlights for Q3FY26 (2) 1 P&L Highlights 2 ▪ Net Profit for Q3FY26 at INR 952 Crs up ~55.4% Y-o-Y • RoA1 at 0.9% for Q3FY26 v/s. 0.6% in Q3FY25 and Q2FY26 • Q3FY26 Operating Profit at INR 1,234 Crs up by 14.3% Y-o-Y; Operating Profit (adjusted for gratuity impact) growth at 28.7% Y-o-Y ▪ NIM impro
Slide 32: Profit and Loss Statement
Profit and Loss Statement All amounts in INR Crs • Net Profit for Q3FY26 at INR 952 Crs up 55.4% Y-o-Y Quarter Ended Growth Profit and Loss Statement Q3FY26 Q2FY26 Q3FY25 Q-o-Q Y-o-Y • Operating Profit for Q3FY26 at INR 1,234 Crs up 14.3% Y-o-Y Net Interest Income 2,466 2,301 2,224 7.2% 10.9% Non In
Slide 33: Break Up of Non-Interest Income
Break Up of Non-Interest Income All amounts in INR Crs • Non-Interest Income for Q3FY26 at INR Quarter Ended Growth Break up of Non Interest Income 1,633 Crs, up 8.0% Y-o-Y 1 Q3FY26 Q2FY26 Q3FY25 Q-o-Q Y-o-Y Non Interest Income 1,633 1,644 1,512 -0.7% 8.0% • Interest on Income Tax refunds of INR 88
Slide 34: Break up of Operating Expenses
Break up of Operating Expenses All amounts in INR Crs • Strong control on Operating costs Quarter Ended Growth continued during the quarter, enabling Break up of Operating Expenses Q3FY26 Q2FY26 Q3FY25 Q-o-Q Y-o-Y improvement in C/I ratio Manpower Cost 1,161 1,152 1,141 0.8% 1.7% • Operating Costs f
Slide 35: Provisions and P&L
Provisions and P&L All amounts in INR Crs • Total Provisions for Q3FY26 down 39.6% Y-o- Quarter Ended Growth Y & down 56% Q-o-Q Break up of Provisions • Provision for taxation at INR 260 crs Q3FY26 Q2FY26 Q3FY25 Q-o-Q Y-o-Y includes INR 45 crs reversal for prior years tax refund Operating Profit/(Lo
Slide 36: Balance Sheet
Balance Sheet All amounts in INR Crs • Balance Sheet expanded by 3.0% Y-o-Y Balance Sheet 31-Dec-25 30-Sep-25 31-Dec-24 Q-o-Q % Y-o-Y % driven by growth in Advances and Deposits Assets 426,007 429,035 413,607 -0.7% 3.0% and offset by 16.8% reduction in balances of Deposits placed in lieu of PSL shor
Slide 37: Break up of Advances & Deposits
Break up of Advances & Deposits All amounts in INR Crs Advances Segmental Break up of Advances 2 31-Dec-25 30-Sep-25 31-Dec-24 Q-o-Q % Y-o-Y % 3 • Retail Banking Advances up 2.3% Y-o-Y Retail Banking ^ 120,865 120,802 118,125 0.1% 2.3% • Of which Cards and Rural Banking up Commercial Banking 65,962
Slide 38: Break up of Investments
Break up of Investments All amounts in INR Crs • Total Net Investments at INR 91,157 Crs Investments Breakup • SLR – INR 80,698 Crs • Non SLR – INR 10,459 Crs • Standard Rated - INR 8,074 Crs: HTM 0.5% 99.9% Rated AA and above • Security Receipts- NIL • Others Standard 1- INR 2,384 Crs AFS 5.8% SLR
Slide 39: NPA Highlights
NPA Highlights All amounts in INR Crs • GNPA Ratio at 1.5% in Q3FY26 down Asset Quality Parameters 31-Dec-25 30-Sep-25 31-Dec-24 10bps both on Q-o-Q and Y-o-Y basis Gross NPA (%) 1.5% 1.6% 1.6% Net NPA (%) 0.3% 0.3% 0.5% • NNPA Ratio at 0.3% in Q3FY26 flat Q-o- Provision Coverage Ratio excl. Technic
Slide 40: Summary of Labelled & Overdue Exposures
Summary of Labelled & Overdue Exposures All amounts in INR Crs 31-Dec-25 30-Sep-25 31-Dec-24 • Sustained reduction in Standard Particulars Gross Provisions Gross Provisions Gross Provisions Restructured Advances NPA 4,015 3,343 4,055 3,284 3,963 2,821 Other Non Performing Exposures 4,656 3,964 4,789
Slide 41: CET 1 Ratio at 13.9%
1 CET 1 Ratio at 13.9% 1 Bank’s Capital Adequacy Ratio 1 15.5% 15.6% 15.9% RWA to Total Assets at 73.9% vs. 1.6% 1.7% 2.6% 71.7% in Q2FY26 and 72.3% in CRAR TIER II Q3FY25 CET 1 13.9% 13.9% 13.3% CET 1 accretion from DTA - Q-o-Q INR 318 Crs. (+10 bps) 31-Dec-25 30-Sep-25 31-Dec-24 2 CET I Q-o-Q Move
Slide 42: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 41
Slide 43: Retail Bank: Full spectrum retail bank growing with strong momentum
Retail Bank: Full spectrum retail bank growing with strong momentum All amounts in INR Crs Growth calibration in Retail Advances 1 Pan-India presence via 1,328 118,125 120,426 118,981 120,802 120,865 branches, 235 BC 74% of branches in banking outlets Top 200 deposit and 1,351 ATMs, centers Q3FY25 Q
Slide 44: Branch Banking: Expanding Footprint, Enhanced Digital Cross Sell
Branch Banking: Expanding Footprint, Enhanced Digital Cross Sell & Growth in Granular Deposits All amounts in INR Crs 1 Branch network expanded by 33 branches in Q3 FY26 2 Digital Journeys for seamless Customer Acquisition, Servicing & Cross sell Branches BCBO Assisted Digital Onboarding • ~96% elig
Slide 45: Retail Assets: Focus on Profitability enhancement
Retail Assets: Focus on Profitability enhancement All amounts in INR Crs 1 Retail Banking asset disbursements1: Calibration in Product & Sourcing mix 2 Diversified retail book2 Secured Business Loans 9,510 9,187 9,088 Home Loans 7,989 8,004 Personal Loans 5% 3% 6% Commercial Vehicle Loans 18% 6% Cre
Slide 46: Micro Enterprise Banking
Micro Enterprise Banking Catering MSME Market Segment 1 Steady Growth in Funded Book 4 Growth Avenues, Digitization & Product Innovation Y-o-Y growth: 8% 19,535 19,606 Statistical Model-Based Scoring implemented 18,877 18,831 across lending programs, enhancing agility in credit 18,235 assessments an
Slide 47: Rural Assets
Rural Assets Deepening the penetration in emerging rural markets & generating Agri PSL All amounts in INR Crs 1 Business originations 1 2 Robust Farmer financing and Women Microfinance book ▪ High quality farmer financing book with NPA of ~3.1% 1,072 1,120 947 929 928 ▪ Calibrated book growth & deli
Slide 48: Credit Cards: Steady business growth
Credit Cards: Steady business growth 1 Sustained Strong Growth in Cards, Book Size & Card Spends 2 Key Initiatives Q3 FY 26 No of Cards In (‘000s) EMI Enablement: Book Size in Cr 2,762 Enabled real-time EMI conversion at the point of sale, giving customers Spends in Cr flexibility to convert transac
Slide 49: Wholesale Banking: Covering Diverse Client Segments
Wholesale Banking Covering Diverse Client Segments with Deep Product Expertise CORPORATE & INSTITUTIONAL BANKING CLIENT SEGMENTS COMMERCIAL BANKING Large Financial Multinational & New Government Corporates Institutions Economy Corporates Banking Indian Commercial & Cooperative Banks, Indian Corporat
Slide 50: Corporate & Institutional Banking – Wholesale Banking Business (1)
Wholesale Banking Business (1) All amounts in INR Crs 1 Corporate & Institutional Banking 3 Providing tailored solutions to clients across business segments Funded O/S Non-Funded O/S 78,414 78,200 • Team of 175 Relationship Bankers in 9 cities 75,783 75,680 74,144 Large • Focus on providing wide sui
Slide 51: Wholesale Banking Business (2)
Wholesale Banking Business (2) Building sustainable Liability Book • CMS solutions for Large and Mid-Corporates • Alignment with Govt. strategy & fund flow to focus on • Exporter Accounts implementing agencies • Real Estate – RERA • Local Bodies, Development Authorities, Smart Cities & Agricultural
Slide 52: Agency Business
Agency Business YES BANK is authorized as an Agency Bank to collect Central & State Tax Payments YES Tax Pay – An integrated collection suite enabling seamless tax payments across government tax portals. Key Features Central State Mandates Mandates Direct Integration for YES BANK Net Integrated with
Slide 53: Financial Markets: Customised solutions for clients
Financial Markets Customised solutions for clients >15 yrs Remittances 38% Dedicated experienced product sales managers YesFX Currency providing structured hedging solutions Exotics Notes 5-15 yrs Imports Full Yes FxOnline 49% Pan India Presence through sales centres FX Sales Product Suite FX and <5
Slide 54: Contents
Contents India : Fastest Growing Major Economy YES Bank – India’s New Age Private Sector Bank Unique Turnaround Profitability Trajectory Financial Results – Q3FY26 YES BANK Franchise Digital & Transaction Banking 53
Slide 55: Digital @ Banking
Digital @ Banking A blend of distinctive capabilities, integrated strategy and multi pronged delivery channels aimed at enhancing skill with better efficiency and profitability Distinctive Capabilities Business Integrated Strategy Multi Pronged Delivery Market Leadership – YBL processes ~1 in 3 ‘Del
Slide 56: IRIS
IRIS A Next Gen ‘all-in-one’ retail SUPER APP 250+ Features live on IRIS 45% 70% 44% ~ 74k App Ratings 44 Lakhs Registered customers Monthly Active Credit card EMI Credit card based Service Requests daily Customers conversions done loans (QL) soruced processed via IRIS 4.6 6% ▲ ~9 logins per month 2
Slide 57: IRIS Biz
IRIS Biz A Next Gen ‘all-in-one’ Business SUPER APP 100+ Banking Features across Web & Mobile Payments | Collections | Trade Finance | Supply Chain | Business Loans | Liquidity Mgmt | more.. 4 Lakhs + Scan 1,14,000 + 1.6 Cr + 75,500 + 6550 + to Registered watch Active Customers Transactions Tax Bill
Slide 58: YES PAY NEXT
YES PAY NEXT A Next Gen ‘UPI’ Payment App UPI Payments | Bill Payment & Recharge | UPI Lite | Autopay Available in 2 languages | Gift cards, Vouchers & more... App store ratings 52 Lakhs + 14% 4.5 Registered customers Quarterly Growth in User Base 4.8 Top plugin partners - Swiggy | Zerodha Coin |Ann
Slide 59: YES Pay Biz
YES Pay Biz One Stop Solution for Merchants Collect | Manage | Grow 390,000+ 2X 1800 Cr+ App Store Ratings- Registered Merchants QoQ Throughput Growth Monthly transactions value 4.3 On demand Instant Settlements | Multiple Collection Modes| Sub-User Management |Available in 6 languages 58 58
Slide 60: API Banking Strategy: Enriched Customer Experience
API Banking Strategy : Enriched Customer Experience API’fication of our Marketplace model Sachetisation of Solutions across Industry Segments (YES BANK + Partner Offerings) YES Bank Services Partner Services Smart FinTechs Collections E-Invoicing Remittances Retailers Exchange Houses Cardless cash P
Slide 61: Digitizing client journeys through Fintech partnerships
Digitizing client journeys & creating inorganic client acquisition funnel through Fintech partnerships Partnership roadmap of Digital & Transaction Banking Source Digital Onboard Digital Transact Digital Service Phygital Monitor Digital ▪ Digital Acquisition at ▪ Digital Client Onboarding ▪ API’fica
Slide 62: Strategically leverage Public Digital Infrastructure
Strategically leverage Public Digital Infrastructure Contributing to building new-age India through collaboration on Key Digital Initiatives Digital Initiatives Principle Objectives YES Differentiators Consent Layer for Data sharing system making Curated & Expansive offerings Account Aggregator (AA)
Slide 63: Powering Digital India with our Distinctive Capabilities
Powering Digital India with our Distinctive Capabilities #1 UPI Payee PSP Bank Powering ~ 351mn txn daily #2 UPI Payer PSP Bank Powering ~193 mn txn daily CAGR 64% (Q4FY22-Q3FY26) CAGR 40% (Q4FY22-Q3FY26) 57% 55% 55% 54% 39% 35% 33% 32% 40% 32% 38% 30% 34% 27% % Credit Cards Issued Digitally1 CAGR 1
Slide 64: Transaction Banking
Transaction Banking Leveraging the strength of solutioning, leading to granular CASA, LC, Guarantees, FX Sachetisation of Transaction Banking: Curated Solutioning by Client Segments Strengthening Franchise Market Leadership – YBL Large Corporates FinTech & processes 1 in 3 Digital Payment Exchange H
Slide 65: Thank You
~/ YES BANK Thank You