Millennium Post

Yes Bank july-sept profit rises 30%

Private sector lender Yes Bank has reported 30 per cent increase in net profit at Rs 482.54 crore for the quarter ended 30 September, 2014 on the back of higher income from fee and other sources.

Bank’s net profit stood at Rs 371.13 crore for the same quarter in the previous fiscal.

Total income rose to Rs 3,337.97 crore in Q2-FY15 from Rs 2,947.39 crore a year ago, the bank said in a filing to the BSE.

Net interest income grew at 27.4 per cent to Rs 856.4 crore for Q2 FY15 with healthy growth in advances and expansion of NIMs (net interest margin) to 3.2 per cent from 2.9 per cent in Q2 FY14, the company said in a statement.

Also, the bank significantly reduced provisions towards bad loans to Rs 119.51 crore from Rs 179.12 crore a year ago as bad assets were controlled.
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