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Private Lenders Reports Profit of Rs 129 Crore And Asset Quality Improvement For Yes Bank

Source: Deccan Herald

Yes Bank Q2 Results: Profit And Provisions Decline

For the quarter ended 30 September, YES Bank posted a net profit of rupees 29.37 crores on Friday. In the same period last year, the private lender reported a loss of rupees 600.08 crores.

Source: Moneycontrol


The Net Interest Income (NII) increased to ~1,973 crores by 3.4 per cent quarter-on-quarter. In Q2FY21, the net interest margin stood at 3.1 per cent versus 2.7 per cent last year. The cost-to-income ratio dropped from 53.40 per cent to 49.30 per cent.

Non-Performing Assets

The gross non-performing assets (NPAs) of the bank stood at 16.30 per cent against 16.8 per cent in the March quarter. 5.01 per cent in the same quarter last year. Net NPAs for YES Bank came in at 4.71 per cent. Compared to 4.96 per cent a quarter ago and 2.91 per cent last year for the same quarter.
Provisions decreased to ⁇ 1,187 crores, down 11.10 per cent year-on-year, from 1336.25 crores for the corresponding quarter last year.
Net advances rose 1.5 per cent quarter-on-quarter at around 1,66,923 crore, with a good uptick in retail disbursements at about 3,764 crores, the bank said. The deposits increased dramatically sequentially by 15.7 per cent to ⁇ 1,35,815 crore, it added.

β€œTotal step up in provisioning ofΒ β‚Ή1,600 crore consistedΒ β‚Ή1,038 crore towards COVID-19 related provisioning and balance predominantly towards non-performing investments,” YES Bank said in the regulatory filing.

At 1,360.03 crore, pre-provision operating profit for the quarter decreased by 6.7 per cent compared to the year-ago period. But it increased by 18.6 per cent quarter-on-quarter.
Operating expenses of YES Bank decreased by 4.5 per cent quarter-on-quarter. 21.1 per cent to 1,320 crores year-on-year. In the September quarter, the bank’s supply coverage ration improved to 75.7%.

Yes Bank Targeting Retail And MSME

YES Bank is targeting fresh retail and MSME disbursements of around 10,000 crores, says Prashant Kumar, YES Bank’s CEO & MD.

Source: Business Standard

On 5 March, the Reserve Bank of India placed a moratorium on the crisis-hit YES Bank. The banking regulator took charge of the board of YES Bank and, until 3 April, put a withdrawal cap on bank accounts.
State Bank of India acquired up to 49 per cent interest in YES Bank, according to the RBI-backed rescue for the troubled lender. HDFC and ICICI Bank infused 1,000 crores each, 600 crores each from Axis Bank and 500 crores each from Kotak Mahindra Bank (KMB) Ltd into Yes Bank. The RBI named Prashant Kumar as CEO & MD of Yes Bank.

Also Read:Β The US Records The Most Number of Deaths Due to COVID-19. Death Toll Surpasses 2.25 Lakh.


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Anjali Singh