Private lender YES Bank's net profit declined by 32.2 per cent year-on-year (YoY) to Rs 153 crore in the quarter ended September (Q2FY23) largely due to ageing related provisioning requirements. The bank had posted a net profit of Rs 225 crore in the quarter year ago (Q2FY22).
YES Bank's net interest income (NII) was up 31.7 per cent YoY in Q2FY23 to Rs 1,991 crore. Its NIM improved to 2.6 per cent in July-September period, up by 40 basis points from level in Q2FY22.
Asked about room to improve NIM further amid rising deposit costs, Prashant Kumar, the bank's managing director and CEO said efforts would be to improve margins. He, however, did not give guidance on the target.