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 -

Share this article...

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Gold was so cheap in year 2000, Check Last 25 years Gold Rate

You will be surprised to know the Gold Rate in 2000, Check Last 25 years Gold Rate

Income Tax Department Recovers Rs.40 Crore Cash During Raids on Shoe Traders in Agra

Income Tax Department Recovers Rs. 40 Crore in Cash During Raids on Shoe Traders in Agra

Russian Court Orders Seizure of Deutsche Bank’s Assets, But Why?

Russian Court Orders Seizure of Deutsche Bank's Assets in Lawsuit Over Gas Processing Plant Construction Project

Man in UP received Rs 9,900 Crore in his Bank Account, Bank froze his account

Bank Account Software Glitch Leads to a Shocking Rs 9,900 Crore Balance in Uttar Pradesh Man's Account

Consumer Forum directs SBI to compensate customer for card cloning fraud

Consumer Forum directs SBI to compensate customer for card cloning fraud

Baroda Gramin Bank Officers protest against Regional Manager

Baroda Gramin Bank Officers protest against Regional Manager

PNB Bank Manager’s Wife commits suicide, Family says she was forced for Dowry

PNB Bank Manager's Wife commits suicide, Family says she was forced for Dowry

J&K High Court says Excess Salary paid to employee can’t be recovered after retirement

Jammu and Kashmir High Court Rules Against Recovery of Excess Payments to Retired Employee

Madras High Court: Employees Cannot Be Denied Pensionary Benefits Due To Administrative Delays

Landmark Ruling by Madras High Court: Administrative Delays Cannot Deprive Employees of Pensionary Benefits

Latest News