Yes Bank Q4 results: Profit decreased to Rs.202 crore

- Advertisement -

Private sector lender Yes Bank on Saturday posted a 45 per cent decline in its March quarter net at ₹202 crore.

For the entire fiscal FY23, the bank witnessed a 32.7 per cent decline in its net profit at ₹717 crore, it said in a regulatory filing. Profits for both the March quarter and the fiscal year have been impacted by accelerated provisioning, the bank said.

For the quarter under review, its core net interest income grew 15.4 per cent to ₹2,105 crore, while the non-interest income was up 22.8 per cent to ₹1,082 crore.

- Advertisement -

The bank reported a net profit of Rs 202 crore, a near 45 percent drop from Rs 367 crore in the same period a year earlier, as provisions for bad loans increased. The lender in the quarter ended March 2023 reported net interest income (NII) of Rs 2,105 crore, up by 15.7 percent YoY.

For the fiscal year (FY) 2022-23, NII stood at Rs 7,918 crore, up by 21.8 percent YoY. Net interest margin (NIM) for the March 2023 quarter stood at 2.8 percent, up by a marginal 0.30 percent on YoY basis. The bank’s NIM for FY23 jumped to 2.6 percent, up by 0.30 percent YoY.

Yes Bank’s deposits as of March 2023 stood at Rs 11.8 lakh crore from Rs 10.6 lakh crore, a YoY growth of 10.9 percent. Current and savings account (CASA) ratio was 30.8 percent in the March 2023 quarter. CASA Deposits for FY23 grew by 26.3 percent YoY. The lender opened 13.4 lakh CASA accounts FY23 compared to 11.4 lakh accounts in FY22.

- Advertisement -

The lender’s gross non-performing assets (GNPA) ratio stood at 2.2 percent, compared to 13.9 percent last year. The net non-performing assets (NNPA) ratio of the bank stood at 0.8 percent from 4.5 percent last year.

- Advertisement -

More News...

Recomended

SBI deploys mobile ATM services in flood hit areas in Tamil Nadu

SBI deploys mobile ATM services in flood-hit areas in Tamil Nadu

Important news for PNB Customers: Update KYC by December 18 to Avoid Account Restrictions

PNB Customers: Update KYC by December 18 to Avoid Account Restrictions

Economic Offences Wing arrests Central Bank Manager in Rs 3.3 cr fraud case

Odisha EOW arrests Central Bank Manager in Rs 3.3 cr fraud case

Rs.300 crore recovered in IT raid, 50+ employees of SBI given duty to count cash

Rs.300 crore recovered in IT raid, SBI staff given duty to count cash

Kerala doctor committed suicide over dowry demand

Kerala doctor committed suicide over dowry demand

Bank of Baroda Senior Manager Vacancy 2023, Salary Rs.1 Lac per month

Bank of Baroda Senior Manager Vacancy 2023, Salary Rs.1 Lac per month