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03 April, 2020 11:08 IST
Yes Bank Q1 net jumps 31% to Rs 12.60 bn
Source: IRIS | 26 Jul, 2018, 04.09PM
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Yes Bank, one of the leading private sector bank, today reported a 30.57% jump in net profit at Rs 12.60 billion for the third quarter ended June 30, 2018 from Rs 9.65 billion in the same period last year.

Interest earned of the bank increased 41.37% to Rs 65.78 billion during the quarter from Rs 46.53 billion in the corresponding period last year.

Net Interest Income grew by 22.7% y-o-y to Rs 22.19 billion and Non-Interest Income grew by 49.6% y-o-y to Rs 16.94 billion with NIMs at 3.3%.

Rana Kapoor, Managing Director & CEO, YES BANK (Q,N,C,F)* said, ''YES BANK has again delivered sustained performance across balance sheet growth, profitability and asset quality. Further, the growth has been well segmented across Corporate, IBU, SME and particularly Retail Business which grew 105% y-o-y taking Retail Banking proportion in total advances to 14.0%. The exponential growth momentum in Retail demonstrates the leverage created across people, branches and technology over the past few years and is further expected to increase granularity in Bank's asset and liabilities over the quarters to come. The Bank has also received approval from SEBI to commence its ‘Mutual Fund Business’ which will complement and further augment Bank’s Retail Liabilities and Wealth Management product offerings.

The other key highlight of the quarter was Bank's continued resilience in Asset Quality and resolution capabilities as demonstrated through recoveries in NPA and Security Receipts book resulting in decline in total Stressed Assets to 1.52% aggregate.

YES Bank's sustained performance and inherent franchise strength has also been corroborated by Bank's recent rating upgrade to AAA by CARE which will provide further impetus to Bank's superior performance, overall Cost of Funds reduction and enable it to capture market share at an increasing pace.''

Shares of the bank declined Rs 13.85, or 3.61%, to settle at Rs 369.60. The total volume of shares traded was 1,838,902 at the BSE (Thursday).

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