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YES Bank has reported a 31 per cent increase in net profit to ₹883 crore in the third quarter ended December 30, 2016, from ₹676 crore in the year-ago period.
In the reporting quarter, net interest income (the difference between interest earned and interest expended) was up 30.3 per cent year-on-year (y-o-y) to ₹1,507.50 crore (₹1,157 crore in the year-ago quarter).
Non-interest income, comprising commission, exchange and brokerage, profit from sale of investments, and other non-interest income, increased 34 per cent y-o-y to ₹998 crore (₹746 crore).
Rana Kapoor, Managing Director & CEO, YES Bank, said growth and profitability were driven by expansion in net interest margins to 3.5 per cent (from 3.4 per cent in the year-ago quarter), while maintaining healthy asset quality.
Advances increased 39 per cent y-o-y to ₹1,17,087 crore as at December-end 2016 from ₹84,396 crore as at December-end 2015.
Deposits were up 30.5 per cent to ₹1,32,376 crore (₹1,01,437 crore as at December-end 2015). The low-cost CASA (current account and savings account) deposits increased to 33.3 per cent from 26.6 per cent.
Gross non-performing assets as a proportion of gross advances edged up to 0.85 per cent from 0.66 per cent in the year-ago quarter.
YES Bank shares closed at ₹1,347.15 apiece, up 0.06 per cent over the previous close on the BSE.
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