The Board of Directors of YES BANK Ltd. took on record the audited results for the year ended March 31, 2008 and un-audited Q4-FY2007-08 results at its meeting held in Mumbai today.

Total income for Q4-FY2008 was up 75.9% to Rs.494.3 crore as compared to Rs. 281.09 crore for Q4-FY2007. Operating profit for Q4-FY2008 was up 102.4% to Rs. 120.9 crore as compared to Rs.59.8 crore for Q4-FY2007. Profit after tax for Q4-FY2008 was up 108.7% at Rs.64.5 crore as compared to Rs. 30.9 crore for Q4-FY2007. Total Advances grew by 50.0% to Rs.9,430 crore from Rs. 6,290 crore as at March 31, 2008. Total Deposits grew by 61.5% to Rs.13,273 crore from Rs. 8,220 crore as at March 31, 2008.

Total income for FY2008 was up 112.9% to Rs. 1665.4 crore as compared to Rs. 782.2 crore for FY2007. Operating profit for FY2008 was up 103.0% to Rs.350.1 crore as compared to Rs. 172.4 crore for FY2007. Profit after tax for FY2008 was up 112.0% at Rs.200.0 crore as compared to Rs. 94.4 crore for FY2007.

Announcing the Q4 and Full Year results of the Bank, Rana Kapoor, Founder / Managing Director & CEO, YES BANK said, “We have achieved tremendous momentum and progress towards sustained growth over the fiscal year 2007-08. A concerted business strategy and relentless efforts of our top management leadership team along with YES BANKers institutionally has resulted in significant growth of various existing businesses while adding several products and services to cater to the needs of Future Industries of India. The year continued to see substantial investments into launching of Retail branches and ATM network to augment the reach and distribution of our products & services”. “These efforts have yielded considerable traction in increasing and deepening our customer relationships. We are confident that our comprehensive efforts will provide further impetus to sustain and grow our business momentum and profitability,” he further added.

Other Performance Highlights and Ratios:

• Advances at Rs. 9,430 crore; Growth of 50.0% over March 31, 2007.

• Deposits at Rs.13,273 crore; Growth of 61.5% over March 31, 2007.

• Return on Assets (annualized) of 1.61% and Return on Equity of 20.06% in Q4-FY2008

• Return on Assets of 1.42% and Return on Equity of 19.0% in FY2008

• Capital Adequacy Ratio of 13.64% (Tier I – 8.52%) as at March 31, 2008.

• Book value per share of Rs. 44.6 as at March 31, 2008.

• EPS (non-annualized) of Rs. 2.18 for Q4-FY2008.

• Basic EPS of Rs 7.02 and Diluted EPS of Rs 6.75 in FY-2008.

Key Business and Financial Highlights:

YES BANK held an Extra Ordinary General Meeting (EGM) on March 10, 2008 to get shareholder approvals on its decision to issue 20 million equity shares, by way of Qualified Institutional Placement (QIP) as agreed upon by the Capital Raising Committee of the Board of Directors of YES BANK.

Awards & Recognitions

• YES BANK has been ranked THIRD among New Private Sectors Banks, in the Financial Express-E&Y Survey of India’s Best Banks of 2007, announced on March 31, 2008. The Bank has been ranked overall #1 amongst 56 banks on the key parameter of Credit Quality and ranked #1 on Growth in its category (overall#2 on Growth).

• YES BANK was awarded the Financial Insights Innovation Award (FIIA) for the Most Innovative e-Payments Solution in Asia on February 29, 2008, in Singapore. YES BANK was the only Indian Bank to receive this accolade from amongst 150 nominations across Asia Pacific. These awards recognize the significant achievements of banks and insurers across the region for the most innovative use of technology.

• YES BANK has been ranked SECOND among Medium Size Banks and the Fastest Growing Bank in its category, in the Business Today – KPMG Survey of India’s Best Banks of 2007. This was the first year of YES BANK’s participation in the Business Today-KPMG Best Banks Survey.

• YES BANK was ranked # 7 within the Banking sector in the Fifth BT-Cirrus Study on The Leading Newsmakers, up from # 14 in 2006. YES BANK was ranked # 99 overall up 47 places from the ranking of # 146 in 2006.

• YES BANK received the Global HR Excellence Award and the Employer Branding Award for Continuous Innovation in HR Strategy in February 2008 at the Asia Pacific HRM Congress.

• YES BANK was ranked as the Top Deal Maker in the Life Sciences knowledge sector by Merger Market, a leading global news service. YES BANK was also ranked 8TH overall by value of deals.

Knowledge & Sustainability Initiatives

• YES BANK and Alterra B.V., Wageningen, a part of the Wageningen University and Research Centre (WUR), a leading knowledge institute based in Netherlands signed a Memorandum of Understanding to jointly serve stakeholders across the Food and Agribusiness value chain in India.

• YES BANK was the Knowledge Partner to the Indian Merchants’ Chamber Global Trade and Investment Conference on January 11, 2008 in Mumbai. A Knowledge Report titled “India Your Partner” was released by Hon’ble Chief Minister of Maharashtra, Shri Vilasrao Deshmukh, and Hon’ble Union Minister for Overseas Indian Affairs, Shri Vayalar Ravi.

• YES BANK was the Knowledge Partner to FICCI on the Consultative Conferences on APMC Regulations held at Delhi, Kolkata and Chennai. Shri. Sharad Pawar, Minister of Agriculture, Consumer Affairs, Food and Public Distribution was the Chief Guest for the conference in Delhi.

• YES BANK was the Knowledge Partner to the India International Potato Expo in Kolkata in partnership with Government of West Bengal, Ministry of Agriculture and Ministry of Food Processing, Government of India, and the State Governments of Punjab and Madhya Pradesh. A report was released by the Hon’ble Chief Minister of West Bengal Shri Buddhasaheb Bhattarcharya.

• YES BANK made a presentation on Emerging Trends in Retail Financing and FDI, at a Seminar on Retail Revolution for Agricultural Prosperity, organized by the Bangalore Chamber of Industry and Commerce on February 15, 2008. The presentation highlighted the advantages for rural retailing from FDI.

• YES BANK was the Knowledge Partner to the CII Rural Development Summit on March 4-5, 2008 in New Delhi, in partnership with IFC and the Ministry of Panchayati Raj, Government of India. The theme of the summit was “Unlocking the Growth Potential of Rural India”. YES

• BANK made a presentation on Rural Industry Partnership – Evolving New Business Models, and also participated in a panel discussion on Rural Financing – Micro Credit to Micro Enterprising.

Financial Advisory

• YES BANK was the Exclusive Strategic & Financial Advisor to Arrow Webtex Limited for private equity placement with ICICI Venture and Pacific Corporate Services. The two funds invested USD 31 million in Arrow Webtex for a minority stake.

• YES BANK was the Exclusive Strategic & Financial Advisor to Apar Industries for its acquisition of Uniflex Cables. The transaction resulted in equity stake of 48.5% on a fully diluted basis for Apar Industries Limited (excluding the open-offer). The size of the deal is USD 31.75 mn (including refinancing of debt to the tune of USD 15.54 million).

• YES BANK was the Exclusive Strategic & Financial Advisor to Jeans Knit Private Limited for its acquisition of the plant of Celebrity Fashions for USD 10.6 mn

• YES BANK Limited acted as the Manager to the Open Offer made by Jaydev M. Mody Group for acquiring up to 20% of the shares of G.P.Electronics Limited, the offer size amounting to INR 19.4 Million

Corporate Finance

• YES BANK acted as the Exclusive Banker and Sole Underwriter has sanctioned Term Loan, Working Capital and Bank Guarantee Facilities totaling INR 765 Million to Green Delhi BQS Private Limited (a subsidiary of Jindal Stainless Limited) for the construction, operation and maintenance of 310 Bus Queue Shelters under Concession Agreement on BOT basis for 10 years. The BQS are on the prime route connecting Airport to South Delhi to Common Wealth Games route.

• YES BANK acted as the Sole Arranger for INR 1,250 million non-fund facility for 12 months to Spice Communication Limited, out of which YES BANK provided underwritten offer for INR 650 million and is in advanced stage of syndication for balance INR 600 million.

• YES BANK was the Sole Arranger to provide Bid Bond Guarantees totalling INR 950 million to Adani Power Limited to help them bid for supply of 2000 MW to Haryana Power Generation Corporation Ltd and 2000 MW to Maharashtra State Electricity Distribution Company Ltd.

• YES BANK provided 5 year term loan facility Navyuga Engineering Company Limited for import of dredger, which includes buyer’s credit of USD 15 million for 3 years and INR facility for the balance 2 years.

Retail Banking & Wealth Management

• YES BANK has 67 operational branches across 57 locations nationally, 75 offsite ATM’s in Mumbai and NCR and 2 Central Processing Centres at Mumbai and Gurgaon. YES BANK has received additional licenses to open 57 new branches and 125 offsite ATMs taking the total licensed network to 117 branches and 200 Offsite ATM’s.

Human Capital Management

• YES BANK appointed Ankush Sambhoo as Country Head – Infrastructure & Network Management. (formerly with Bharti Axa).

• Total employee strength stood at 3150 as on March 31, 2008 (2443 as on March 31, 2007), an increase of 707 executives in one year.

Sourced From: Adfactors Public Relations Pvt Ltd

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