Yes Bank has posted a stellar financial performance for the first quarter of the fiscal year, reporting a standalone net profit of ₹1,071 crore, marking a robust 34% year-on-year increase compared to the ₹802 crore recorded in the same period last year. This bottom-line growth was propelled by a strong expansion in core interest income and a steady reduction in non-performing assets. The private sector lender’s Net Interest Income (NII)—the difference between interest earned on advances and interest paid out on deposits—surged 17.5% year-on-year to hit ₹2,786 crore, up from ₹2,371 crore in the corresponding quarter of the previous year. Meanwhile, non-interest income grew by a stable 11% to reach ₹1,420 crore, further bolstering the bank’s operational revenue.
The bank’s quarterly results also highlighted substantial strides in managing credit risk and strengthening asset quality. Yes Bank’s gross non-performing asset (GNPA) ratio shrank to 1.68% from 2.02% year-on-year, while its net non-performing asset (NNPA) ratio improved to 0.45%, down from 0.53% over the same period. Total provisions for the quarter dropped significantly by 38% year-on-year to ₹420 crore, directly lifting profitability. On the growth front, net advances expanded by 15% year-on-year, driven primarily by retail, micro, small, and medium enterprises (MSME), and mid-corporate loan originations. Total deposits grew by 16% to reach a comfortable threshold, backed by an improved momentum in low-cost Current Account Savings Account (CASA) balances. Capital adequacy remained healthy at 16.3%, providing the lender with the necessary buffer to comfortably fund its targeted credit expansion plan over the remaining quarters of the fiscal year.
