Yes Bank enjoys 28% rise in 1st quarter net

Private sector lender Yes Bank on Wednesday reported 27.7 per cent rise in net profit to Rs 551.20 crore during the first quarter ended June 30, 2015-16, on higher net interest income. Bank's net profit during the April-June quarter of the previous fiscal was Rs 431.54 crore.

Its net interest margin (NIM), the key gauge of profitability, expanded to 3.3 <g data-gr-id="18">per cent</g> in the first quarter of the current fiscal, from 3 <g data-gr-id="19">per cent</g> in the year-ago period, Yes Bank said in a filing on BSE.

Net interest income of the bank rose by 42.2 per cent, year-on-year, to Rs 1,059.80 crore, it said. 

Total income also increased to Rs 3,797.02 crore in the first quarter of 2015-16 as against Rs 3,093.19 crore in the same period of previous fiscal. However, bank's asset quality slipped during the period under review, with gross Non-Performing Assets (NPAs) rising to 0.46 per cent of the gross advances as against 0.33 per cent a year ago.

Similarly, net NPAs or bad loans also inched up to 0.13 <g data-gr-id="20">per cent</g>, from 0.07 <g data-gr-id="21">per cent</g> of net advances. <g data-gr-id="24">Yes</g> Bank's total advances grew by 35.1 per cent to Rs 79,665.60 crore and total deposits grew by 25.2 per cent to Rs 95,315.90 crore as on June 30, 2015.