Private sector lender Yes Bank is back in the black with a 355 per cent jump in its net profit to ₹206.84 crore in the quarter ended June 30, 2021.
The bank had reported a net loss of ₹3,787.75 crore in the quarter ended March 31, 2021 and a net profit of ₹45.44 crore in the first quarter of last fiscal.
YES Bank receives board approval to raise ₹10,000 crore through debt securities
However, the lender’s total net income fell 2.8 per cent to ₹2,459 crore for the first quarter of this fiscal from ₹2,529 crore a year ago.
Net interest income declined by 26.5 per cent to ₹1,402 crore in the first quarter of the fiscal from ₹1,908 crore in the corresponding period last fiscal.
Net interest margin was down at 2.1 per cent on June 30, 2021 compared to 3 per cent a year ago.
Non-interest income, however, shot up by 70.3 per cent on a year-on-year basis to ₹1,056 crore in the April to June 2021 quarter.
Provisions fell by 40.7 per cent to ₹644 crore in the first quarter of the fiscal from ₹1,087 crore a year ago.
Gross non-performing assets eased to 15.6 per cent of gross advances as on June 30, 2021 from 17.3 per cent a year ago. However net NPAs rose to 5.78 per cent of net advances from 4.96 per cent as of June 30, 2020.
YES Bank implements TransUnion’s onboarding solution
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.