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Private sector lender YES Bank’s standalone net profit surged by 74.3 per cent to ₹225.5 crore in the second quarter of the fiscal led by a sharp jump in non interest income and lower provisions.
The bank’s standalone net profit was ₹129.37 crore in the second quarter of last fiscal.
For the quarter ended September 30, 2021, YES Bank however, reported a 23.4 per cent drop in its net interest income to ₹1,512 crore as against ₹1,973 crore a year ago.
Net interest margin was at 2.2 per cent.
Non interest income jumped up by 30.2 per cent on a year on year basis to ₹778 crore in the July to September 2021 quarter.
Provisions were 65 per cent lower at ₹377 crore in the second quarter of the fiscal as against ₹1,078 crore a year ago.
Asset quality saw some improvement but non performing assets remained high.
Gross NPAs was ₹28,740.59 crore or 14.97 per cent of gross advances as on September 30, 2021 versus 16.9 per cent a year ago. Net NPAs was 5.55 per cent of net advances at the end of the second quarter as against 4.71 per cent a year ago.
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