Yes Bank Q4 Profit Increases To Rs. 367 Crore; Asset Quality Improves Consistently

Yes Bank in its Q4 results announced Saturday posted a net profit of Rs. 367 crore as against a loss amounting to Rs. 3788 crore in the same period last year. The profit also increased sequentially from Rs. 266 crore posted in the December quarter, a 37.9% increase.

Net interest income at the lender also rose 84.4% YoY to Rs. 1819 crore from Rs. 987 crore in the same quarter of last year. Net interest income is the net of interest spended and interest realised. Also, the bank logged an increase in net interest income of 27.9% YoY.

There has also been a decrease in provisioning by 27.7% at Rs. 271 crore as against December's quarter of Rs. 375 crore.

Net interest margin also improved 2.5% in the March quarter both sequentially as well as YoY.

Gross NPA has been seeing a consistent fall from 15.4% of the advances as on March 2021 to 13.9% of the advances as on Q4Fy22.

"While the core operating profitability of the franchise continues to improve, the drag from legac egacy stressed assets has significantly reduced, resulting in net profitability. The bank continues to invest in its digital infrastructure in its quest to retain its dominant place in the country's digital payments and fintech ecosystem. The bank has built up significant momentum in new business generation while continuing to invest in its platform and people to build a differentiated franchise that delivers sustainable and profitable growth in a responsible manner," said the private lender's MD and CEO Prashant Kumar.