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 % of total loans, from 2.2 % in the same quarter of the previous year. The bank’s net NPA fell to 0.6 % from 0.80 % 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 % 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% 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.
