Private sector lender YES Bank on Saturday reported a 124 per cent surge year-on-year in its net profit to Rs 454 crore for the March 2024 quarter. Its net interest income during January-March 2024 rose 2.3 per cent to Rs 2,153.1 crore, compared with Rs 2,105.2 crore a year ago.
Its net profit had stood at Rs 202.4 crore in the corresponding period last year.
YES Bank’s operating profit during January-March 2024 stood at Rs 902.47 crore, as compared with Rs 888.90 crore a year ago.
On assets quality, the bank’s gross non-performing assets (GNPAs) fell to 1.7 per cent (as a percentage of total advances) in Q4 FY24, compared with 2.2 per cent a year ago. Its net NPA also saw improvement and fell to 0.6 per cent, from 0.8 per cent a year ago.
The bank’s net advances rose 13.8 percent YoY to Rs 2.27 lakh crore, aided by sustained growth momentum in SME and mid corporate advances and resumption of growth in corporate segment.
Its total deposits jumped 22.5 per cent to Rs 2.6 lakh crore. CASA ratio at 30.9 per cent as against 30.8 per cent in Q4FY23.
The lender saw compression in net interest margin which dropped to 2.4 per cent, compared with 2.8 percent in Q4FY23.
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