YES Bank net profit up 25.1%

YES Bank net profit up 25.1%

 Mumbai-based YES Bank reported a 25.1 per cent increase in net profit for the third quarter ended December 31, 2015 at Rs 675.7 crore, compared with Rs 540.3 crore in the same quarter previous fiscal.

Net interest income also grew by a healthy 27.3 per cent to Rs 1,157 crore as against Rs 909 crore in Q3FY15.

Gross non-performing advances (GNPA) as a proportion of gross advances was at 0.66 per cent (Rs 558.6 crore) while net non-performing advances (NNPA) as a proportion of net advances was at 0.22 per cent (Rs 187.2 crore) as on December 31, 2015. The bank’s specific loan loss provision coverage was at 66.5 per cent as on December 31, 2015.
During the quarter, the bank did not do any restructuring. There were no slippages from the restructured book into NPA during the quarter.

“The bank continues to show resilience on all asset quality parameters with an improving outlook going forward with credit costs for FY2015-16 being contained within 50 basis points (previous credit cost guidance of 50-70 bps),” Yes Bank managing director and chief executive officer Rana Kapoor said.

Given the improving macroeconomic environment along with stable asset quality and accelerating retail franchise momentum, the bank is well placed to capture market share across retail and corporate segments at an enhanced pace, Kapoor added.

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