Yes Bank net up 40.5%

CORPORATE SCORECARD

Yes Bank on Wednesday reported a 40.5 per cent jump in net profit at Rs 63.62 crore for the second quarter, as against Rs 45.28 crore for the same period last year. The bank’s net interest income for the quarter rose by 50 per cent to Rs 122.6 crore for the quarter, as compared to Rs 81.7 crore during July-September 2007.The bank expects to enhance its current account and savings account (CASA) base to 20-25 per cent by the end of FY10 from about 9 per cent at present.

The bank’s non-interest income has witnessed a year-on-year decline of 1.7 per cent at Rs 151.8 crore during April-September 2008. The bank said this was mainly because the bank had restructured its investment book during the last quarter, and transferred some of its securities from the available for sale (AFS) category to held to maturity (HTM) book. The bank said that its non-performing assets (NPA) on a net basis improved to 0.15 per cent at the end of second quarter, which could be attributed to some recovery in bad debts during July-September.