22 Oct , 2021 By : Kanchan Joshi
Yes Bank has reported a net profit of Rs225 crore in the September quarter, as compared to Rs129 crore in the year-earlier quarter. Yes Bank shares were down 5% at Rs13.60 in noon trade. Net interest income was down 23% to Rs1,512 crore on a year-on-year basis though non-interest income jump registered a sharp jump of 30% to Rs778 crore.
In terms of asset quality, GNPA ratio fell to 15% in September quarter vs 15.6% in the June quarter while NNPA ratio also fell to 5.5% vs. 5.8% last quarter.
Yes Bank said fresh slippages lower at Rs1,783 crore against Rs2,233 crore in the June quarter. The banks said prudent provisioning of Rs336 crore were made “on a single telecom exposure".
Yes Bank said there were no material impact due to RBI restrictions imposed on Mastercard to onboard new customers with effect from July 22, 2021. Integration with Visa is completed and issuance on Visa platform has commenced from September 17, 2021. The lender also said that integration with NPCI/Rupay is underway and is expected to be launched shortly.
Other highlights of Yes Bank Q2 earnings:
Operating expenses at Rs1,612 Cr up 5% Q-o-Q led by significant pick up in business activity during the quarter
Net Advances at Rs172,839 Cr up 6% Q-o-Q
Total Deposits at Rs176,672 Cr up 8% Q-o-Q; CASA growth rate 2x of overall deposits
NPA Provision Coverage Ratio at 78.9%
0 Comment