YesBank Q3 net profit rises 25 pc to Rs 52 Cr
New Delhi: YesBank on Saturday reported a net profit of Rs 52 crore for the quarter ended December 31, 2022.
Operating profit for the quarter stood at Rs 914 crore, registering a 25 per cent growth on year-on-year basis.
CASA in the quarter improved by 20.3 pc on a Y-o-Y basis.
Advances in the quarter grew by 10% on YoY basis while deposits registered a growth at 16% YoY.
Net Interest Income (NII) for the quarter stood at Rs 1,971 crore, up 11.7% Y-o-Y.
Commenting on the results and financial performance, Prashant Kumar, MD & CEO, YES BANK said, “During the quarter, the Bank successfully closed two deals which are strategic and transformational in this new journey of the Bank. The successful Capital Raise has aided in significant expansion in our Capital Base, and post full consummation, our CET-I Ratio will reach an extremely comfortable level.”
“Moreover, with successful transfer of stressed Assets to the JC Flowers ARC, the GNPA and NNPA Ratios have now declined to 2% and 1% respectively which is the lowest since Q3FY19. At the same time, the operational momentum of the Bank continues with further step-up in Disbursements across segments and highest Operating Profit in the last eight quarters,” he said. (UNI)