Yes Bank net profit rises 31.3 pc in Q2

IANS | 21 Oct, 2016
Leading private sector lender Yes Bank on Thursday reported a 31.3 percent increase in its net profit to Rs 801.5 crore in the quarter ended September 30, 2016, as compared to Rs 610.4 crore in the year-ago period.

Its net interest income in the quarter under review stood at Rs 1,446.2 crore, up by 30.5 percent as against Rs 1,108.5 crore in the corresponding period last year.

The lender also said its net interest margin (NIM) improved to 3.4 percent in September quarter from 3.3 percent in a year-ago period.

"The Bank achieved an important milestone with CASA ratio crossing 30 percent for the first time. It demonstrates improving productivity and efficiency of our retail liabilities/branch banking growth engines."

"Our commitment towards building a strong retail franchise got a comprehensive push with the launch of credit cards during the quarter. The complete suite of retail product offerings will continue to provide accelerated momentum to our retail franchise," said bank's Managing Director and CEO Rana Kapoor.

In the quarter, the bank's gross non-performing advances (GNPA) stood at 0.83 percent while net non-performing advances (NNPA) were at 0.29 percent.

"Total advances grew by 37.7 percent y-o-y (year-on-year) to Rs 1,10,216.2 crore as at September 30, 2016. Corporate banking accounted for 67.9 percent of the advances portfolio, while retail and business banking (MSME) constituted 32.1 percent," said a statement.