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YES Bank Q1 2022 results: Profit jumps 50% , NII Increases by 31.9%

By Priyanka Verma 
Updated Date

New Delhi: On Saturday, Yes Bank, private sector lender reported a 50.17 percent year-on-year (YoY) growth in profit after tax (PAT) at Rs 310.63 crore compared with Rs 206.84 crore in the same quarter in QF1 2022. In a BSF filling, the private sector lender said Net interest income (NII) for the quarter jumped 32 per cent YoY to Rs 1,850 crore.

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The lender futher said that net interest margin (NIM) for the quarter came in at 2.4 percent, up nearly 30 bps YoY. The bank said its non-interest income for the quarter came in at Rs 781 crore. Adjusted for unrealised and realised gain on investments, the non-interest income climbed 35 per cent on a year-on-year basis.Net advances for the quarter came in at Rs 1,86,367 crore, with retail & corporate mix at 62 percent and 38 percent, respectively, while deposits increased by 18 percent YoY to Rs 1,93,241 crore, with total balance sheet growth at 17 percent YoY, the bank said.

The bank made provisions worth Rs 175 crore for the quarter, which were down 62 per cent YoY and 36 per cent sequentially, aided by lower slippages. The slippages stood at Rs 1,072 crore during the April to June quarter this financial year, as compared with Rs 2,233 crore during the same quarter last year.

“Q1FY23 has been a stable quarter with progress across fresh disbursements momentum, improving granularization of assets, steady profitability and consistently improving Asset Quality metrics. The Balance Sheet is now resilient to navigate the volatile Interest Rate environment, and the Bank remains on track to achieve the FY23 as well as medium term guidance and objectives, ” Commenting on the results and financial performance, Yes Bank chief executive officer and MD Prashant Kumar, said.

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