Yes Bank Q2 net profit up 26.5% at Rs 610.4 crore yoy

Yes Bank Ltd, on Thursday reported a 26.5% increase net profit during the July-September quarter at Rs 610.4 crore, compared to a year earlier, helped by an increase in net interest income and stable asset quality.

The Mumbai-based private lender’s operating income grew 24.7% during the fiscal second-quarter to Rs 1091.1 core, it said.

Earnings were helped by an increase in net interest margin that rose 3.3% from a year earlier, while its net interest income which grew 29.4% to Rs 1108.5 crore, it said.

The gross non-performing assets of the bank at end of September increased by 25 basis points to 0.61%, while its net NPAs were higher at 0.20%, up by 11 basis points from a year earlier.

The bank’s total advances grew 29% to Rs 80,015.1 crore and its deposits grew 24% to Rs 99,344/30 crore, the earnings statement showed.

Yes Bank