Millennium Post

Private Yes Bank suffers 3.8% slide in Q2 net profit

Mumbai: Private sector Yes Bank on Thursday reported a decline of 3.8 per cent in net profit to Rs 964.7 crore for the second quarter ending September 2018.

The lender had posted a net profit of Rs 1,002.73 crore in the year-ago period. Recently, the RBI refused to extend the tenure of the lender's long-serving MD and CEO Rana Kapoor beyond January 31, 2019.

As per the BSE filing, Yes Bank's total income in the latest September quarter rose to Rs 8,704.68 crore from Rs 6048.78 crore in the same period a year ago.

The bank's gross Non-Performing Assets (NPA) reduced to 1.60 per cent of its total assets at the end of September. In the comparable period, the same was at 1.82 per cent. Net profit declined 3.8 per cent year-on-year to Rs 964.7 crore, which includes impact of Rs 252.2 crore of one-time Mark to Market provisioning, pre-dominantly on corporate bonds.

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