Net NPAs declined marginally to 5.3% of total loans compared to 5.5% in the
previous quarter. However, they increased from four percent a year earlier.
Yes Bank share price gained more than 3 percent in the early trade on
January 24 after the company announced its December quarter earnings.
The private sector lender on January 22 reported a 77% year on year growth
in December quarter profit at Rs 266 crore as lower provisions and higher loan
recoveries drove earnings at the lender.
Net interest income, a closely watched measure of how much money the bank
makes from lending, was down 31% to Rs 1,764 crore and other income declined
32% to Rs 734 crore.
Provisions and contingencies fell 82% to Rs 375 crore. Sequentially they
dipped 0.7%.
Fresh slippages were significantly lower at Rs 978 crore against Rs 1783
crore in the previous quarter. Recoveries and upgrades for the quarter in
review stood at Rs 610 crore and Rs 573 crore, respectively.
As a percentage of total loans, gross non-performing assets (NPAs) improved
to 14.7% as compared to 15% in the previous quarter and 15.4% a year earlier.
Net NPAs declined marginally to 5.3% of total loans compared to 5.5% in the
previous quarter. However, they increased from four percent a year earlier.
At 09:27 hrs Yes Bank was quoting at Rs 13.99, up Rs 0.25, or 1.82 percent
on the BSE.
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