Yes Bank shares rally over 7% on strong Q2 results

Yes Bank’s share price surged over 7 per cent after the bank reported a 145.6 per cent y-o-y increase in standalone net profit to ₹553 crore for the quarter (Q2) ending September 30, 2024.

Shares of Yes Bank jumped 7.32 per cent to ₹20.82 on the BSE as of 1:13 pm, after hitting an intraday high of ₹21.29 per share.

The lender’s interest earnings during the quarter amounted to ₹7,730 crore, marking a 15 per cent increase from the ₹6,711 crore reported in the corresponding quarter of the previous financial year.

Yes Bank’s net interest income (NII) also grew by 14.3 per cent to ₹2,200 crore, compared to ₹1,925 crore in Q2 of FY 2024.

Further, Yes Bank’s asset quality improved, with gross and net non-performing assets falling to 1.6 per cent and 0.5 per cent, respectively, in Q2 from 1.7 per cent and 0.6 per cent in the previous quarter.

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(This article was written by an intern)