Yes Bank for the third quarter ended December 31, 2024 reported 164.5% growth in net profit at ₹612 crore over the year ago period.
The bank’s net interest income (NII) for the quarter grew Year on Year (YoY) to ₹2,224 crore. Net interest margin (NIM) at 2.4% remained flat YoY.
GNPA ratio was lower YoY at 1.6% against 2.0% a year ago and NNPA ratio was at 0.5% against 0.9% in the same period last year, the bank said in a filing.
NPA Provision Coverage Ratio (PCR) was at 71.2% against 56.6% in Q3FY24.
Gross Slippages for the quarter was at ₹1,348 crore against ₹1,233 crore in the year ago period.
Standard restructured accounts amounted to ₹1,928 crore (0.8% of the advances) down from ₹3,958 crore (1.8% of the advances) a year ago.
The bank’s net advances during the quarter grew 12.6% YoY to ₹ 2,44,834 crore aided by sustained growth momentum in SME up 26.7% YoY, Mid Corporate Advances up 26.7% YoY and Corporate Advances up 26.8% YoY.
Resolution momentum sustained with recoveries and resolutions at ₹1,843 crore. Provision cost (non-tax) at ₹259 crore was down 53.4% YoY.
Total deposit at ₹2,77,224 crore was up 14.6%.
Prashant Kumar, MD & CEO, Yes Bank said, “Q3FY25 is the fifth quarter in a row where the bank has demonstrated sustained sequential expansion in profitability.”
Published – January 25, 2025 07:56 pm IST
