Yes Bank net profit doubles to Rs 452 crore in Jan-March quarter

Mumbai, April 27: Yes Bank on Saturday reported a more than two-fold jump in net profit to Rs 452 crore for the January-March quarter of the financial year 2023-24, compared to Rs 202.43 crore in the same quarter of 2022-23.

The private sector lender also recorded an improvement in its asset quality with gross non-performing assets (NPA) coming down to 1.7 per cent of total loans, from 2.2 per cent in the same quarter of the previous year. The bank’s net NPA fell to 0.6 per cent from 0.80 per cent on a year-on-year basis.

The bank reported a net interest income (NII) of Rs 2153 crore, up 2 per cent from the corresponding figure of Rs 2105 crore recorded in the same quarter of the previous year.

Yes Bank’s net advances registered a 13.8 per cent year-on-year growth to Rs 2.27 lakh crore, on the back of a sustained momentum in SME and mid-corporate advances and resumption of growth in the corporate segment.

The total deposits of the bank stood at Rs 2.6 lakh crore, up 22.5 per cent while the CASA ratio was at 30.9 per cent in the quarter compared to 30.8 per cent in the same period of 2022-23.