Yes Bank net rises 22%

January 18, 2018 09:52 pm | Updated 09:52 pm IST - Mumbai

A security guard stands outside a Yes Bank branch at its headquarters in Mumbai, India January 17, 2018. Picture taken January 17, 2018. REUTERS/Danish Siddiqui

A security guard stands outside a Yes Bank branch at its headquarters in Mumbai, India January 17, 2018. Picture taken January 17, 2018. REUTERS/Danish Siddiqui

Private sector lender Yes Bank net profit rose 22% to ₹1,077 crore in the quarter ended 30 December on the back of 46.5% year-on-year growth in loans.

Net interest income — the difference between interest earned and interest expended — rose 26.8% to ₹1,889 crore while non-interest income increased 39.9% to ₹1,422 crore. The bank reported a net interest margin of of 3.5% for the quarter.

The lender reported gross non-performing assets at 1.72% as at end December compared with 1.82% in September. However, in absolute terms, gross NPA was ₹2,974 crore in December 2017, up from ₹2,720 crore in September and from ₹1,005 crore as at end December 2016. Its provision coverage ratio was 46.4% as at December compared with 43.3% in the preceding quarter.

The lender said its has an exposure of Rs 1342 crore in 9 accounts which has been referred to the National Company Law Tribunal. The bank carries provision of 51% on the aggregate funded exposures of the first NCLT, and, 43% on the aggregate funded exposure of the subsequent NCLT.

“One account ( Rs 23.4 crore, as per List 1) which was Standard as on September 30, 2017, slipped into NPA during the quarter. However, the Bank had already provided 50% on this account during Q1FY18,” it added.

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