Yes Bank Ltd Has Announced Unaudited - Oct 22, 2008

Yes Bank Ltd has announced the following Unaudited results for the quarter ended September 30, 2008:

The results for the Quarter ended September 30, 2008
The Bank has posted a net profit of Rs 636.20 million for the quarter ended September 30, 2008 as compared to Rs 452.80 million for the quarter ended September 30, 2007. Total Income has increased from Rs 3793.80 million for the quarter ended September 30, 2007 to Rs 5699.30 million for the quarter ended September 30, 2008.

Yes Bank - Clarification

Yes Bank Ltd has clarified as under:

There have been unfounded rumors on Yes Banks foreign exchange derivatives exposure and its implications on the Banks operations.

Yes Bank confirms that it has a highly qualified top management and treasury team responsible for the Banks foreign exchange risk portfolio with highly robust risk management and mitigation systems, processes and controls embedded within the Bank.

Yes Bank reiterates it has no uncovered exposure in the foreign exchange derivatives business and has a highly valuable treasury customer base which is consistently meeting all its maturing financial obligations.

Yes Bank continues to execute its strategy across Corporate, SME and Retail Banking businesses. The Bank currently has 60 operational branches and is in the process of launching 57 additional branches taking the total licensed network to 117.

The Bank reported a Net profit of INR 1355.2 million for the nine months period ended December 31, 2007, a growth of 114% over the corresponding period last year. Other key operating parameters include:

- Q3FY08 Return On Assets of 1.53% (annualized) and Return on Equity of 20.46% (annualized)- Deposits at Rs 111.29 billion as at December 31, 2007- Capital Adequacy Ratio of 14.18% as at December 31, 2007- Book value per share of Rs 42.53 as at December 31, 2007- Nil NPA portfolio as of December 31, 2007.