The Hindu Business Line : Yes Bank net jumps 113%

Driven by strong growth in net-interest income and non-interest income, Yes Bank has recorded a 113.3 per cent jump in its net profit for the first quarter ended June 30, 2007. The bank’s profit after tax was at Rs 36 crore against Rs 16.88 crore in the corresponding period last year. “There has been an overall growth in business due to rise in advances and the non-interest income has also gone up. Non-interest income constitutes advisory income, treasury incom e, distribution of third party products, among others,” said Mr Rajat Monga, Chief Financial Officer, Yes Bank. Total income for the quarter was up 169.3 per cent to Rs 348.49 crore (Rs 129.39 crore). Non-interest income contributed 59.2 per cent to total net income. Total advances grew by 118.3 per cent to Rs 6,917 crore and total deposits rose 168.3 per cent to Rs 8,640 crore.

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