YES Bank Q3 net profit spiked 22 %

Yes Bank Ltd on Thursday said that the bank’s annual growth in net profit figured at Rs 1,076.87 crore up by 22 percent for the quarter ended Dec 2017, as against Rs. 882.63 crore that was registered in the corresponding quarter last year.

Net interest income (NII) spiked 26.82% on Y-o-Y basis to Rs 1,888.80 crore in Oct -Dec over the previous year’s Rs 1,489.33 cr, while provisions and contingencies fell 5.75% on Q-o-Q basis to Rs 421.32.

The Bank’s asset quality improved with percentage of gross NAP (non-performing assets) falling to 1.72% from the previous quarter. Percentage of net NPA also eased to 0.93% from the previous 1.04%. Conversely, provision coverage ratio (PCR) advanced to 46.4% as on Dec 31, 2017, from 43.3% as of Sept end.

Yes Bank’s MD & CEO Mr. Rana Kapoor asserted that the Bank’ asset quality continues to demonstrate buoyancy with strong asset quality parameters that includes significant repayments from accounts previously watched under RBI RBS review for the financial year 2017.

Shares of YES Bank closed today at Rs 340.25, down 0.66% on BSE, while on NSE closed at 346.35 up by 1.15%