YES Bank Q3 net profit grows 22%, asset quality looks up

YES Bank on Thursday announced a 22 per cent annual growth in net profit at Rs 1,076.87 crore for the quarter ended December 2017.

In the same quarter last year, the figure was Rs 882.63 crore.

An ET Now poll had predicted a net profit of Rs 1,051 crore during the quarter under review.


Net interest income rose 26.82 per cent year-on-year to Rs 1,888.80 crore in October-December over the year-ago's Rs 1,489.33 crore.

Provisions and contingencies declined 5.75 per cent quarter-on-quarter to Rs 421.32 crore in the third quarter.

Asset quality of YES Bank turned for the better, with percentage of gross non-performing assets (NPA) declining to 1.72 per cent from the preceding quarter. Percentage of net NPA also eased to 0.93 per cent from the earlier 1.04 per cent.

Provision coverage ratio improved to 46.4 per cent as on December 31, 2017, from 43.3 per cent as of September-end.

Commenting on the results Rana Kapoor, Managing Director & CEO, YES BANK said, “YES Bank has delivered another quarter of satisfactory performance with sustained earnings delivery and accelerated growth momentum with the bank achieving a balance sheet size beyond Rs 2.5 lakh crore and advances book in excess of Rs 1.7 lakh crore. Granularity in the balance sheet continues to improve with retail banking advances more than doubling in a year to 11.8 per cent of outstanding book and CASA ratio of 38.0 per cent.”

“YES Bank’s asset quality continues to demonstrate resilience with stable asset quality parameters that includes meaningful repayments from accounts previously observed under RBI RBS review for FY17,” said Kapoor.

Shares of YES Bank closed at Rs 340.25, down 0.66 per cent on BSE.