Money & Banking

YES Bank Q3 profit rises 22% to ₹1,077 crore

Our Bureau Mumbai | Updated on January 18, 2018

Rana Kapoor, Founder, Managing Director and CEO, YES Bank


Net interest income grows 27% to ₹1,889 cr

YES Bank, the country’s fifth-largest private bank, met street expectations with a 22 per cent increase in net profit at ₹1,077 crore in the third quarter ended December 31, 2017, as against ₹883 crore in the year-ago period.

The bank’s net interest income, which is income earned from loans, was up 27 per cent year-on-year (yoy) at ₹1,889 crore. Non-interest income jumped 40 per cent at ₹1,422 crore.

Rana Kapoor, Managing Director and CEO, YES Bank, said, “The bank has delivered another quarter of satisfactory performance with sustained earnings delivery and accelerated growth momentum, achieving a balance sheet size beyond ₹2.5 lakh crore and an advances book in excess of ₹1.7 lakh crore.”

Granularity in the balance sheet continues to improve with retail banking advances more than doubling in a year to 11.8 per cent of outstanding book and CASA ratio of 38 per cent, he added.

Total assets up

Total assets grew 36 per cent y-o-y to ₹2,65,432 crore. Deposits grew 30 per cent y-o-y to ₹1,71,731.4 crore. Gross non-performing assets (GNPAs) as a percentage of total advances rose to 1.72 per cent from 0.85 per cent in the year-ago quarter. During the quarter, GNPAs increased ₹254 crore to ₹2,974 crore.

During the quarter, the bank reported gross slippages of ₹494.90 crore, which includes ₹245.4 crore slippage from accounts previously classified under SDR, 5:25 and NCLT categories as on September 30, 2017. The bank made total recovery of ₹228.20 crore and write-offs of ₹12.7 crore in the quarter.

Published on January 18, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like