Its net profit increased 44.8% to ₹1,064.8 crore from ₹738 crore in the previous year.
The lender’s net interest income (NII) was up 16% at ₹2,637.7 crore from ₹2,276.3 crore in the year-ago period.
Yes Bank’s net non performing assets (NPA) contracted to 0.2% from 0.3% sequentially. Its net NPA was at ₹653 crore from ₹671.2 crore in the previous quarter.
Meanwhile, its gross NPA declined to 1.3% from 1.5% in the previous quarter. Its gross NPA fell to ₹3,604.9 crore from ₹4,014.6 crore sequentially.
Its provisions came in at ₹187.6 crore compared to ₹21.9 crore sequentially and 318.1 crore in the previous year.
The bank’s net interest margin was at 2.7% from 2.5% int he previous year and 2.6% in the previous quarter.
Its slippages were unchanged sequentially at 1.6%, while it was 2% last year.
Yes Bank MD and CEO Vinay Tonse, in the lender’s earnings concall said the bank stands on a very stable foundation thanks to the work of all stakeholders involved, including the board, regulators and management.
He said he has sees a strong alignment of purpose among all stakeholders which is reassuring for the path ahead. Going forward, the lender will build on what is working well, pursue growth that is sustainable, he said.
Yes Bank will invest steadily across core areas of people, product, processes and tech platform, he said. Tonse added that the ongoing collaboration with SMBC provides helpful support.
He said the fourth quarter profitability was strong and improved and the bank also demonstrated healthy operating performance.
He said the NIM improved by 10 basis points sequentially and 20 basis points from the previous year, driven by front loaded repricing of deposits, continued CASA traction, reduction in cost of borrowing.
Tonse said Yes Bank witnessed a marked improvement in asset quality. Its PCR remains healthy at 81.9% for the quarter, while its gross NPA and net NPA were at 1.3% and 0.2%, respectively.
As Yes Bank enters the new fiscal year, it will continue to invest in its people, process and technology, he said. The focus will be on building a future ready bank with strong resilience, Tonse added.
Yes Bank shares ended the previous session 2.3% up at ₹20.41 apiece. The stock has risen 7.8% in the past month but has declined 5% this year, so far.
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