Crime Today News
YES BANK BUILDING WITH NEW LOGO
| Photo Credit:
Dinakaran
Yes Bank reported a better-than-expected 63 per cent rise in net profit for the January-March quarter on Saturday, helped by falling loan-loss provisions.
The Mumbai-based private lender’s standalone net profit rose to ₹738 crore for the financial year fourth quarter from ₹452 crore in the same period a year earlier.
That was above analysts’ average forecast of 6.4 billion rupees, according to LSEG data.
Yes Bank’s provisions and contingencies, or funds kept aside for potential bad loans, fell 32.5 per cent on-year to ₹318 crore.
Its gross non-performing asset ratio, a key gauge of asset quality, was at 1.60 per cent at end of March, unchanged from the end of the previous three months.
Net interest income, the difference between the interest earned on loans and paid to depositors, rose 5.7 per cent to 22.76 billion rupees.
Its other income, including fees, commissions and interest earned traditional interest-based activities, rose 11 per cent to 15.67 billion rupees.
Its loans grew 8.1 per cent on year, while deposits rose 6.8 per cent .
Net interest margin, a key profitability measure, was 2.50 per cent, up from 2.40 per cent a year earlier and in the previous three months.
Analysts expect banks’ net interest margins to be under pressure in the coming quarters following the 50-basis-points rate cut by the Reserve Bank of India since February. That is because the pass-through to loan rates happens faster compared to deposits.
Shares of Yes Bank closed 1.2 per cent higher on Thursday ahead of the results.
Published on April 19, 2025
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