Yes Bank's Q4 standalone net profit rises to Rs 452 million

Yes Bank on Saturday reported the following net profit. INRRevenue for the quarter ending March 31 was $452 million, according to Reuters. This was an increase from net income. INRIn the same period last year, it was $220 million. Earnings exceeded the average analyst estimate. INR341 million. Private lenders said their reserves and contingencies, or funds set aside for possible bad loans, had declined. INRFrom 471 million INR618 million.

According to reports, Yes Bank had accumulated even more funds in the same period last year after transferring its bad loans to private equity firm JC Flowers.

Lenders' non-performing asset ratio improved from 2% at the end of December to 1.7% at the end of March. The bank's other income (fees earned from providing non-loan services to customers) increased by 56.2% year-on-year, the report added.Also read: YES Bank, ICICI Bank will change fees for savings accounts from May 1st

Yes Bank's net interest income (the difference between interest earned on loans and interest paid to depositors) increased by 2.3%; INR215.3 billion.

Net interest margin, a key profitability indicator for banks, was flat quarter-on-quarter at 2.4%, down from 2.80% a year earlier.

Many Indian banks are strengthening their deposit bases against the backdrop of tight liquidity conditions in the banking system and healthy loan demand. This is putting pressure on loan margins. According to a Reuters report, Yes Bank's loans increased by 12.1% year-on-year, while deposits increased by more than 22%. Last week, HDFC Bank announced its fourth quarter results. INRConsolidated net income for the January-March period was 17,257.87 million, an increase of more than 2% from the previous quarter.

Financial institutions' consolidated net income for fiscal year 2014 was 64,060 million billion yen. On a standalone basis, HDFC Bank reported the following net profits. INR16,511.85 million yen for the January-March period, compared to INRIn the October-December period, it was $16,372.54 million.

In July 2023, the bank merged its parent company HDFC, which specializes in home loans, into itself.

Banks headquartered in the city are INRReserve for fluctuations of 1,090 billion yen (courtesy) in preparation for future setbacks INRSold Credila, which specializes in education loans, to a major private equity firm, resulting in a profit of 734 billion yen.