Yes Bank Q3 net profit falls 7% to ₹1,002 crore1 min read . Updated: 24 Jan 2019, 04:29 PM IST
- Yes Bank named Ravneet Singh Gill as the MD&CEO to succeed Rana Kapoor.
- Yes Bank's gross NPA increased to 2.1% of the total advances in the quarter
Mumbai: Yes Bank Thursday reported a 6.96 per cent fall in net profit to ₹1,001.85 crore in the quarter ended December 2018. Its net profit was ₹1,076.87 crore in the corresponding quarter of 2017-18.
The private sector lender said net provisions stood at ₹550.2 crore on account of ₹570.8 crore of accelerated provisioning on exposure to a "stressed infrastructure conglomerate", according to a stock exchange filing.
The bank, however, did not name the conglomerate.
According to the filing, the bank's net interest income grew 41.2% year-on-year (y-o-y) to ₹2,666.4 crore.
Its advances grew 42.2% y-o-y to ₹2,43,885 crore.
Yes Bank's gross non-performing asset (NPA) increased to 2.1% of the total advances in the quarter, compared with 1.72 per cent in the year-ago period.
Net NPA also increased to 1.18% from 0.93%.
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