private Sector wise, Yes Bank's consolidated net profit rose 147 per cent to Rs 566.59 crore for the July-September quarter of the current financial year. The bank's net profit in the same quarter of the last financial year was Rs 228.64 crore. In the previous April-June quarter, the bank's net profit was Rs 516 crore. Core net interest income rose 14.3 per cent to Rs 2,200 crore in the quarter under review due to overall loan growth of 12.4 per cent and net interest margin of 2.4 per cent.
The default decreased
The bank's non-interest income rose 16.3 per cent to Rs 1,407 crore. Total deposits stood at 18 percent, bucking the industry-wide trend of underachieving credit growth. Bank Chief Executive Officer (CEO) and Managing Director (MD) Prashant Kumar said the bank has set a target of 17-18 per cent growth in deposits and 13-14 per cent in loans in the financial year. current. On the asset quality front, the bank's gross non-performing assets (NPA) declined to 1.6 per cent of gross loans at the end of September 2024, compared to 2 per cent a year ago. Similarly, net NPLs decreased to 0.42 per cent from 0.43 per cent at the end of the second quarter of the last financial year.
yes, banking action
The bank's net profit on a consolidated basis rose 19 per cent to Rs 12,948 crore in the September quarter from Rs 10,896 crore in the same quarter of the previous fiscal year. Talking about Yes Bank shares, they closed lower on the Bombay Stock Exchange on Friday. It fell 3.05 per cent or Rs 0.61 to close at Rs 19.40. At the same time, the bank's market capitalization closed at Rs 60,812.96 crore on the BSE.
Latest business news
