YES Bank Q1 profit up 38.1% on strong net interest income
26 July 2013 3:24 AM IST
Private sector YES Bank on Wednesday reported 38.1 per cent increase in net profit at Rs 400.8 crore for the first quarter ended 30 June, 2013. The bank had posted net profit of Rs 290.1 crore in the April-June quarter of 2012-13.
YES Bank's total income rose to Rs 2,839.9 crore as against Rs 2,174.4 crore in the first quarter of last fiscal.The bank has witnessed steady growth in net profit on the back of strong net interest income (NII) and continued focus on revenue diversity leading to a healthy increase in fee income, YES Bank Managing Director and Chief Executive Officer Rana Kapoor said in a statement.
The bank has continued the strong traction on CASA (current account, savings account ) and retail deposits with its CASA ratio crossing 20 per cent for the first time since inception, he said.
The net interest income during April-June 2013 rose by 39.6 per cent to Rs 659.1 crore as against Rs 472.2 crore in the year-ago period.
As of 30 June, 2013, YES Bank's gross non-performing assets (NPAs) declined to 0.22 per cent of advances as against 0.28 per cent in the same quarter of the previous fiscal. It's net non-performing assets also declined from 0.06 per cent to 0.03 per cent. The bank's Capital Adequacy Ratio (CAR) as of 30 June stood at 15.4 per cent.
YES Bank's total income rose to Rs 2,839.9 crore as against Rs 2,174.4 crore in the first quarter of last fiscal.The bank has witnessed steady growth in net profit on the back of strong net interest income (NII) and continued focus on revenue diversity leading to a healthy increase in fee income, YES Bank Managing Director and Chief Executive Officer Rana Kapoor said in a statement.
The bank has continued the strong traction on CASA (current account, savings account ) and retail deposits with its CASA ratio crossing 20 per cent for the first time since inception, he said.
The net interest income during April-June 2013 rose by 39.6 per cent to Rs 659.1 crore as against Rs 472.2 crore in the year-ago period.
As of 30 June, 2013, YES Bank's gross non-performing assets (NPAs) declined to 0.22 per cent of advances as against 0.28 per cent in the same quarter of the previous fiscal. It's net non-performing assets also declined from 0.06 per cent to 0.03 per cent. The bank's Capital Adequacy Ratio (CAR) as of 30 June stood at 15.4 per cent.
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