YES Bank net profit rises 35% to Rs 342 crore

Bank's total income rose by 40.5% to Rs 897 crore while net interest income was at Rs 584 crore, rising 37%

Private sector lender YES Bank reported 34.7% rise in net profit at Rs 342 crore for the third quarter on the back of robust growth in fee income.

Bank’s total income rose by 40.5% to Rs 897 crore while net interest income (NII) was at Rs 584 crore rising 37%. Fee income registered the growth of 48% to Rs 313 crore.

Net interest margin (NIM) was at 3% for the quarter which rose by 10 basis points sequentially. 

Gross non performing assets (NPA) were at 0.17% while net NPA was 0.04%. Gross NPA was 0.24% and net NPA were at 0.05% in the second quarter.

Bank’s advances increased by 22% to Rs 43,857 crore and deposit growth was at 20% to take total deposits at Rs 56,400 crore.

Capital adequacy ratio was at healthy 18% including tier1 capital of 9.5% (including Q3 profits).

YES Bank is one of the few lenders which offer higher interest rates on savings account after Reserve Bank of India deregulated savings bank rate last year. Its savings accounts grew by 308% year-on-year to Rs 4,905 crore taking banks CASA ratio to 18.3% which rose from 12.6% in the corresponding quarter last year.