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YES Bank net up 30.6% at Rs 882 crore in Oct-Dec

YES Bank net up 30.6% in Q3 FY16 at Rs 882.6 crore compared to the Rs 675.7 crore posted in the same period last year.

In the October – December quarter, the bank’s total income was up at Rs 5,229.96 crore versus Rs 4,122.12 crore in the same quarter last year.

Its total expenditure was up 27.03% at Rs 3,776.15 crore versus Rs 2,972.49 crore in December-end quarter last year.

Provisions and contingencies set aside by the bank came down to Rs 115.38 crore compared to Rs 147.94 in Oct-Dec 2015 quarter, down 22%.

The net interest income of the bank was pu 30.3% at Rs 1,507.5 crore in the quarter on the back of growth in advances and CASA and expansion of NIM.

Commenting on the results, YES Bank Managind Director and CEO, said, “YES Bank has delivered another quarter of satisfactory performance across key financial parameters of growth and profitability driven by expansion in NIMs to 3.5% while maintaining healthy asset quality. During the quarter, the bank further augmented its digital offerings and partnership in line with the government of India’s push towards a cashless economy.”

On the BSE, the bank’s shares were trading at Rs 1,344, down Rs 2.30 or 0.17% lower from previous close.