Highlights from Yes Bank's Q3 earnings release

Highlights from Yes Bank's Q3 earnings release

Highlights from Yes Bank's Q3 earnings release

The institution said that its net profit for the quarter that ended on December 31, 2023, increased by 349.7% to Rs 231.6 crore.

The private sector lender Yes Bank released its quarterly results for the quarter ending in December 2023 on January 27. The reports showed a little improvement in its asset book but a 349.7% increase in net profit.

The bank's earnings report card highlights for the quarter ending in December 2023 are as follows:

a rise in net profit

The bank's net profit rose 349.7% year over year (YoY) to Rs 231.6 crore from Rs 51.5 crore in the same period the previous year.

Operating profit rose by 5.4 percent to Rs 864 crore, while net interest income (NII) climbed by 2.3 percent year over year.

a rise in deposits

Deposits at Yes Bank reached Rs 2.4 lakh crore by December 2023, a 13.2 percent increase over the same period the year before.

In Q3 FY23 and Q3 FY24, the current and savings account (CASA) ratio was 29.7% and 29.4%, respectively.

asset caliber

The gross non-performing assets (NPAs) of the bank remained at 2.0 percent from the previous year. However, net non-performing assets (NPA) for the quarter were 0.9% as opposed to 1.0% in the previous year.

In December 2022, the bank's provision coverage ratio was 56.6 percent, compared to 49.4 percent the previous year.