Provisions declined 40 per cent during June quarter of the ongoing fiscal to ₹644 crore, from ₹1,087 crore in the same quarter last fiscal
Private lender Yes Bank announced its first quarter earnings on Friday in which the bank reported a net profit of ₹207 crore as compared to ₹45 crore in the same quarter last year, marking a rise of 355.2 per cent. The rise in net profit, highest since December 2018, came on the back of decline in provisions and rise in non-interest income.
The net interest income (NII), difference between interest earned and interest expended, came at ₹1,402 crore from ₹1,908 crore in the year-ago period, declining 26.5 per cent year-on-year (YoY). Net interest margin during the quarter was 2.1 per cent, down from 3 per cent in
Meanwhile, non-interest income increased 70 per cent during the quarter under review to ₹1,056 crore, as opposed to ₹621 crore in the year-ago period. Operating profit in Q1 FY22 stood at ₹920 crore, after a decline of 19.8 per cent from ₹1,147 crore in Q1 FY21.
Provisions declined 40 per cent during June quarter of the ongoing fiscal to ₹644 crore, from ₹1,087 crore in the same quarter last fiscal.
Corporate recoveries and resolutions stood at ₹1,643 core, which far outpace slippages of ₹1,258 crore and almost entirely offset total slippages, Yes Bank said in a regulatory filing on Friday.
Yes Bank saw its advances marginally decline to ₹1,63,654 crore in Q1 FY22, from ₹1,64,510 crore in Q1 FY22. Meanwhile, deposits grew ₹1,63,295 crore in the quarter under review, rising 39 per cent on-year against ₹1,17,360 crore in the same quarter last fiscal.
Total balance sheet grew 6.7 per cent to ₹2,72,527 crore in Q1 FY22, from ₹2,55,485 crore in Q1 FY21.
CASA ratio for the June quarter this fiscal stood at 27.4 per cent, up approximately 160 bps Y-o-Y from 25.8 per cent in the same quarter last fiscal. Around 1.5 lakh CASA accounts were opened in Q1 FY22, Yes Bank stated.
Capital Adequacy Ratio (CAR) doubled to 17.9 per cent in Q1 FY22, from 8.6 per cent in Q1 FY21, with Tier II Ratio capped at 2 per cent as per RBI Basel III regulations. CET I Ratio climbed to 11.6 per cent during the quarter from 6.5 per cent in year-ago peiod.
On asset quality front, gross non-performing assets as per cent of gross advances declined to 15.60 per cent during the period under review from 17.30 per cent in the year-ago period. Meanwhile, net non-performing assets as per cent of net advances rose to 5.78 per cent from 4.96 per cent.
Ahead of its results, the Yes Bank share closed 0.3 per cent higher at ₹13 apiece on the BSE on Friday.
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