The lender’s Net Interest Income (NII) or core income for the quarter stood at ₹2,786.3 crore, a growth of 17.5% compared to the year-ago period. A CNBC-TV18 poll had pegged the figure to be ₹2,772 crore.
Net profit for the period stood at ₹1,070 crore, in-line with the CNBC-TV18 poll of ₹1,100 crore. Yes Bank’s bottomline grew by 33.5% on a year-on-year basis.
Yes Bank’s Net Interest Margins expanded by 20 basis points from last year to 2.7%, which is also the same figure reported during the March quarter.
The lender’s asset quality was stable on a sequential basis, with gross NPA at 1.3%, the same as reported last quarter, while net NPA also stood at 0.2%, unchanged from the March report. In absolute terms, Gross NPA for the quarter stood at ₹3,704 crore from ₹3,604 crore in March, while Net NPAs stood at ₹677 crore from ₹653 crore in the previous quarter.
Provisions for the quarter increased by more than 100% sequentially to ₹394 crore from ₹187 crore in March.
Yes Bank’s gross slippages for the quarter stood at ₹964 crore or 1.4% of total advances, compared to ₹1,102 crore or 1.6% of total advances in the previous quarter.
The lender, in its investor presentation stated that retail banking slippages were down to the lowest in the last 10 quarters to ₹843 crore from ₹888 crore last quarter.
Credit-deposit ratio increased to 90.4% from 87.4% last year and 85.7% in the previous quarter.
In its previously disclosed business update, Yes Bank’s net advances grew by 18.4% from last year to ₹2.85 lakh crore. The advances were also higher by 4.3% sequentially.
Deposits for the quarter grew by 14.3% on a year-on-year basis but were down 1.1% sequentially to ₹3.15 lakh crore. The lender’s cost of deposits have gone down by 50 basis points from last year and 10 basis points sequentially.
Shares of Yes Bank ended 0.9% lower on Friday at ₹23.53. The stock is up 10% so far this year and was also re-included in the Nifty Bank index during the index reshuffle.
