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YES Bank, the country’s fifth-largest private bank, met street expectations with a 22 per cent increase in net profit at ₹1,077 crore in the third quarter ended December 31, 2017, as against ₹883 crore in the year-ago period.
The bank’s net interest income, which is income earned from loans, was up 27 per cent year-on-year (yoy) at ₹1,889 crore. Non-interest income jumped 40 per cent at ₹1,422 crore.
Rana Kapoor, Managing Director and CEO, YES Bank, said, “The bank has delivered another quarter of satisfactory performance with sustained earnings delivery and accelerated growth momentum, achieving a balance sheet size beyond ₹2.5 lakh crore and an advances book in excess of ₹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 per cent, he added.
Total assets up Total assets grew 36 per cent y-o-y to ₹2,65,432 crore. Deposits grew 30 per cent y-o-y to ₹1,71,731.4 crore. Gross non-performing assets (GNPAs) as a percentage of total advances rose to 1.72 per cent from 0.85 per cent in the year-ago quarter. During the quarter, GNPAs increased ₹254 crore to ₹2,974 crore.
During the quarter, the bank reported gross slippages of ₹494.90 crore, which includes ₹245.4 crore slippage from accounts previously classified under SDR, 5:25 and NCLT categories as on September 30, 2017. The bank made total recovery of ₹228.20 crore and write-offs of ₹12.7 crore in the quarter.
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