YES Bank rallies 9% as asset quality improves in March quarter

The stock has moved higher by 9% to Rs 353 on the BSE on heavy volumes after the private sector lender said asset quality improved in March quarter sequentially.

Shares of YES Bank have moved higher by 9% to Rs 353 per share on the BSE in noon deal trade after the private sector lender’s asset quality improved in March quarter (Q4FY18) sequentially.

The bank’s Gross non-performing asset (NPA) fell to 1.28% in Q4FY18 from 1.72% per cent in the December 2017 quarter. Net NPA improved to 0.64% from 0.93% previous quarter.

YES Bank reported a better than expected net profit growth of 29% year on year (YoY) at Rs 11.79 billion, on back of healthy growth in net interest income (NII).

The NII during the