private Sector-wise Yes Bank's consolidated net profit jumped 147 per cent to Rs 566.59 crore for the July-September quarter of the current financial year. The net profit of the bank in the same quarter of the last financial year was Rs 228.64 crore. In the previous April-June quarter, the net profit of the bank was Rs 516 crore. Core net interest income increased by 14.3 per cent to Rs 2,200 crore in the quarter under review due to growth in overall loans by 12.4 per cent and net interest margin by 2.4 per cent.
NPA decreased
The bank's non-interest income rose 16.3 percent to Rs 1,407 crore. Total deposits stood at 18 per cent, contrary to the industry-wide trend of falling short of credit growth. The bank's Chief Executive Officer (CEO) and Managing Director (MD) Prashant Kumar said that the bank has set a target of 17-18 percent growth in deposits and 13-14 percent growth in loans in the current financial year. On the asset quality front, the bank's gross non-performing assets (NPAs) declined to 1.6 per cent of gross loans by the end of September 2024, compared to 2 per cent a year ago. Similarly, net NPA declined to 0.42 per cent from 0.43 per cent at the end of second quarter of last financial year.
yes bank share
The bank's net profit on a consolidated basis increased by 19 per cent to Rs 12,948 crore in the September quarter from Rs 10,896 crore in the same quarter last fiscal. Talking about Yes Bank shares, it closed with a decline on the Bombay Stock Exchange on Friday. It fell 3.05 per cent or Rs 0.61 to close at Rs 19.40. At the same time, the market cap of the bank closed at Rs 60,812.96 crore on BSE.
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