Private lender Yes Bank reported a net profit of Rs 452 million for the quarter ended March 31, up 123 per cent from Rs 220 million in the year-ago period.
The bank's total non-performing assets were 1.7%, down from 2.2% in the same period last year. Net NPA for the quarter was 0.6%, improving by 0.80% year-on-year.
Net interest margin, a key profitability metric for lenders, was flat quarter-on-quarter at 2.4%.
Net interest income (NII) was Rs 2,153 billion, a slight increase of 2% as compared to Rs 2,105 billion in the corresponding quarter of the previous financial year.
Provisions for the quarter decreased by 23.7% year-on-year to Rs 470.8 million. Provisions increased sharply last quarter.
The net increase amounted to 2.27 billion rupees, an increase of 13.8% from the previous year, on the back of growth in small and medium-sized enterprises, increase in medium-sized enterprises, and recovery in the corporate sector.
Total deposits increased by 22.5% to Rs 2.6 billion. The CASA ratio was 30.9 percent and in the fourth quarter of 2023 he was 30.8 percent. Against the backdrop of tight liquidity conditions in the banking system and healthy loan demand, most banks are strengthening their deposit bases. This is putting pressure on loan margins. Yes Bank's loans increased by 12.1% year-on-year, and deposits increased by more than 22%.
The bank's shares closed April 26 trading at Rs 26.15 per share, 0.73 per cent higher than the BSE.
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