Money & Banking

YES Bank Q4 net up 27% at Rs 702 cr

Our Bureau Mumbai | Updated on January 20, 2018

Rana Kapoor


bl27_yes bank table

We were able to contain credit costs during the year: MD

YES Bank has reported a 27 per cent increase in net profit at Rs 702 crore in the fourth quarter ended March 2016, against Rs 551 crore in the year-ago quarter.

In the financial year ended March 31, 2016, the private sector bank’s net profit was up 26.6 per cent at Rs 2,539 crore (Rs 2,005 crore in FY2015).

Dividend of Rs 10 per share (100 per cent) has been recommended by the bank’s management and board (subject to shareholders’ approval).

In the reporting quarter, net interest income (the difference between interest earned and interest expended) rose 27 per cent to Rs 1,241 crore (Rs 977 crore in the year-ago quarter).

Non-interest income jumped 36 per cent to Rs 803 crore (Rs 590 crore).

The net interest margin improved to 3.4 per cent (3.2 per cent).

Year-on-year advances and deposits rose 30 per cent and 22.5 per cent to Rs 98,210 crore and Rs 1,11,719.5 crore.

Low-cost current account, savings account (CASA) deposits improved to 28.1 per cent of deposits as of March-end 2016 from 23.1 per cent as of March-end 2015.

Gross non-performing assets and net non-performing assets nudged up 0.76 per cent and 0.29 per cent from 0.41 per cent and 0.12 per cent, respectively, a year ago.

Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, said, “… Overall FY16, despite challenging headwinds, has proved to be extremely satisfactory for YES Bank.”

YES Bank shares were trading at Rs 913 apiece, up 0.27 per cent, on BSE at 11.00 am.

Published on April 27, 2016

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