Comments
YES Bank reported a 30 per cent jump in net profit in the three-month period ended December 2014 at ₹540 crore, driven by robust loan growth and higher net interest and other income. “We have seen healthy growth in corporate lending (20 per cent)…Auto, pharma, telecom, media and exports, among others, have seen more credit activity. Though there has been no new project financing yet,” said Rajat Monga, Chief Financial Officer and Senior Group President of Financial Markets at YES Bank.
Net interest income (difference between interest earned and expended) soared 37 per cent to ₹909 crore and non-interest income rose 38 per cent to ₹537 crore. Though provisions jumped 426 per cent from a year ago to ₹70 crore, write-backs of previously made provisions aided profits.
Net interest margin also increased to 3.2 per cent as against 2.9 per cent a year ago. Sequentially, the margin growth was flat. Gross non-performing assets worsened slightly to 0.42 per cent (₹279 crore) of total advances as compared with 0.39 per cent (₹196 crore) a year ago.
YES Bank’s restructured assets stood at ₹171 crore as on December end, 2014.
By September this year, the bank plans to raise about ₹3,000 crore in multiple tranches through the issue of infrastructure bonds, which will qualify as tier-II or non-equity capital. Overall, the bank has taken board approval to raise as much as ₹8,000 crore in the next 12 months. YES Bank shares ended at ₹786.80 apiece, 0.61 per cent (₹4.75) higher over the previous close on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.