Yes Bank Q3 Result: Yes Bank’s net profit stood at Rs 231 crore in the December quarter. Yes Bank’s net profit stood at Rs 231 crore in the third quarter (October-December, 2023) of the current financial year. The bank gave this information on Saturday.
The net profit of Mumbai’s private sector bank in the same quarter of the last financial year was Rs 52 crore. The bank’s net profit stood at Rs 225 crore in the July-September 2023 quarter.
The bank said in a statement that its net interest income increased by 2.3 percent to Rs 1,971 crore due to 11.8 percent growth in loans and 0.10 percent decline in net interest margin to 2.4 percent in the quarter under review.
The bank’s non-interest income rose 12.1 percent to Rs 1,195 crore. The bank said total net income rose 5.8 percent to Rs 3,211 crore in the third quarter of the current financial year from Rs 3,036 crore in the same period a year ago.
On the asset quality front, the latest drawdown was Rs 1,200 crore, of which over Rs 1,000 crore came from the retail sector alone.
The bank has already recovered assets worth Rs 3,800 crore in the first nine months of the current financial year and is confident of surpassing its target of Rs 5,000 crore for the current financial year. The gross non-performing assets (NPA) ratio was stable at two percent.
