Yes Bank reports net loss of Rs 18,560 crore in Q3

Yes Bank reported a net loss of Rs 18,560 crore in Q3 December 2019 as compared to a net profit of Rs 1,002 crore in Q3 December 2018.

Meanwhile, shares of the private lender surged 28.18% to Rs 32.75 on the BSE.

Pre-tax loss of the private lender stood at Rs 24,772 crore in Q3 December 2019 as against a pre-tax profit of Rs 1,440 crore in Q3 December 2018.

Total income in the December quarter stood at Rs 6268.50 crore, down by 29.17% from Rs 8849.81 crore reported in the same period last year.

Net interest income declined 60.1% to Rs 1,065 crore in Q3 December 2019 from Rs 2,666 crore in Q3 December 2018. Net interest margin (NIM) stood at 1.4% in Q3 December 2019 as compared to 3.3% in Q3 December 2018.

The bank's provisions and contingencies surged 4401% to Rs 24,766 crore in Q3 December 2019 from Rs 550 crore in Q3 December 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 40,709.20 crore as on 31 December 2019 as against Rs 17,134.41 crore as on 30 September 2019 and Rs 5,158.62 crore as on 31 December 2018.

The ratio of gross NPAs to gross advances stood at 18.87% as on 31 December 2019 as against 7.39% as on 30 September 2019 and 2.10% as on 31 December 2018.

The ratio of net NPAs to net advances stood at 5.97% as on 31 December 2019 as against 4.35% as on 30 September 2019 and 1.18% as on 31 December 2018.

Yes Bank is a full service commercial bank' providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.

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