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    YES Bank Q2 results: Private lender reports net profit of Rs 129 cr, provisions decline 11% YoY

    Synopsis

    YES bank had posted a loss of Rs 600.08 crore in the corresponding quarter last year.

    Reuters
    Net profit of the lender stood at Rs 45.44 crore in the preceding quarter ended June 30.

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    Private lender YES Bank on Friday posted a net profit of Rs 129.37 crore for the quarter ended September 30 with some improvement in the asset quality.

    The bank had posted a loss of Rs 600.08 crore in the corresponding quarter last year.

    Net profit of the lender stood at Rs 45.44 crore in the preceding quarter ended June 30.

    Percentage of gross non-performing assets (NPA) stood at 16.30 per cent against 17.30 per cent on QoQ basis. Likewise, net NPA came at 4.71 per cent against 4.96 per cent.

    Provisions declined 11.10 per cent YoY to Rs 1,187 crore. However, the figure witnessed a rise of 9.3 per cent on QoQ basis.

    Net interest income (NII) de-grew 9.70 per cent YoY to Rs 1,973 crore, while non-interest income declined 25.30 per cent YoY to Rs 707 crore.

    YES Bank table 1ETMarkets.com

    YES Bank table 2ETMarkets.com

    Net interest margin stood at 3.1 per cent in Q2FY21 against 2.7 per cent last year. Cost to income ratio declined to 49.30 per cent from 53.40 per cent.

    Earlier during the day, shares of YES Bank closed 4.95 per cent higher at Rs 13.35, while the benchmark BSE Sensex settled 0.31 per cent higher at 40,685.
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    28 Comments on this Story

    Iyerravishankar Iyer32 days ago
    Encouraging results, this is just beginning. If the recovery from Scam people is successful, the bank will bounce back towards old golden days. Let us hope for the BEST. It is for the Government as to how it can EFFICIENTLY RECOVER MONEY FROM CULPRITS. ED NEEDS TO BE VERY VERY STRICT. THE RELAXED ATTITUDE OF ED HELPS CHEATERS TO CHEAT A LOT CHIDU HAS ESCAPED. LAW MINISTER NEEDS TO BE ALERT AND BRING NEW LAWS TO GIVE OPTIMUM AUTHORITIES TO CBI. KERALA GOLD SCAM CULPRIT WILL ESCAPE,T THANKS TO RESPECTED COURTS.
    Leon Fernandes32 days ago
    good news. best of luck for the next 2 quarters.
    Snrj Investment Academy32 days ago
    Finally some positive signs. Hope now onwards the bank will grow fast and recapture its earlier market share.Good job done by RBI and SBI lead Banks.Visit YouTube channel snrj investment academy for analysis of fundamentally strong shares and good mutual funds
    The Economic Times