The Hindu Business Line : YES Bank Q4 net doubles

Mumbai April 24 Yes Bank has registered a 102-per cent growth in net profit at Rs 30.90 crore for the quarter ended March 31, 2007 against Rs 15.32 crore in the previous year.

For the year ended March 31, 2007, the net profit grew by 71 per cent at Rs 94.36 crore against Rs 55.32 crore last year.

The net interest income rose in the fourth quarter by 79.14 per cent to Rs 46.31 crore (Rs 25.85 crore for the same period last year) while that for the full year went up by 94.54 per cent to Rs 171.35 crore (Rs 88.08 crore).

Non-interest income rose by 137 per cent in the fourth quarter to Rs 78.73 crore from Rs 33.21 crore last year.

Total income for the quarter was up 177 per cent to Rs 281.09 crore (Rs 101.34 crore) while for the year it rose 170 per cent this year from Rs 289.92 crore last year to Rs 782.18 crore.

"The efforts of our leadership and top management team have enabled effective execution in all businesses including corporate and institutional banking, business banking and investment banking among others," said Mr Rana Kapoor, Managing Director and CEO, Yes Bank.

"The year has also seen significant investments in the retail branch network that has helped augment our service delivery channels," he added.

Total advances for the year grew 161 per cent to Rs 6,290 crore (2,407 crore) and total deposits went up 182 per cent to Rs 8,220 crore (Rs 2,910 crore).

The scrip closed higher by 4.38 per cent at Rs 153.55 on BSE on Tuesday.

More Stories on : Financial Performance | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page