YES Bank in July-September quarter reported interest expanded at Rs 4785.61 crore, as compared to Rs 3483.02 crore in a similar period last year.
The net interest income of the bank stood at Rs 1,925 crore, which was 3.3 percent up on-year.
Yes Bank Q2 Results 2023: On October 21, Yes Bank announced a notable increase of 47.4 percent in its net profit, reaching Rs 225.21 crore for the second quarter of the ongoing financial year. In comparison, during the same period last year, the bank had recorded a net profit of Rs 152.82 crore.
On a sequential basis, net profit falls over 34 percent.
In the current reporting quarter, the bank’s asset quality witnessed improvement, as the gross non-performing asset (NPA) ratio reached 2 percent, and the Net NPA ratio was at 0.9 percent.
In terms of absolute figures, the gross non-performing assets (NPA) amounted to Rs 4,319.03 crore as of September 30, while the net non-performing assets stood at Rs 27,419.11 crore as of the same date.
During the reporting quarter, provisions and contingencies recorded a year-on-year decline of 14.1 percent, totaling Rs 500.38 crore. In the corresponding period the previous year, this figure had been Rs 582.81 crore.
Provision Coverage Ratio (PCR) of the bank stood at 56.4 percent, as against 48.4 percent last quarter. Including Technical write-off, PCR stood at 72.1 percent, as compared to 67.8 percent.
Yes Bank has reported deposits growth of 17.2 percent on-year, which is up 6.8 percent on-quarter to Rs 2.34 lakh crore, while its advances increased by 9.5 percent on-quarter and 5.2 percent on-quarter to Rs 2.20 lakh crore as detailed in the filing with BSE dated October 3.
In the reporting quarter, CASA Ratio remained stable on a sequential basis, at 29.4 percent despite the challenging environment. 3.91 lakh CASA Accounts opened during the quarter, release said.
The net interest income of the bank stood at Rs 1,925 crore, which was 3.3 percent up on-year. Net interest margins (NIM) for Q2FY24 at 2.3 percent down by nearly 30 basis points (Bps) on-year and 20 bps on-quarter.
In Q2FY24, Non-Interest Income at Rs 1,210 crore, up 38.4 percent on-year and 6.0 percent on-quarter.
Yes Bank in July-September quarter reported interest expanded at Rs 4785.61 crore, as compared to Rs 3483.02 crore in a similar period last year.
Source: News18