Yes Bank logs net profit of Rs 151 cr in Oct-Dec quarter

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Mumbai, Jan 22 | Yes Bank on Friday reported a net profit of Rs 151 crore for the quarter ended December 31.

During the corresponding quarter of the previous financial year (2019-20), the bank had reported a loss of Rs 18,560 crore.

The net interest income of the restructured bank increased by 29.7 per cent on quarter-on-quarter basis to Rs 2,560 crore. Besides, the bank reported a total step up in provisioning of Rs 2,935 crore, consisting of additional Rs 765 crore towards Covid-19 related provisioning and the balance majorly towards increasing ‘PCR’ of both ‘NPA and NPI’.

As on December end, the bank’s gross non-performing asset (GNPA) stood at 15.4 per cent, down from 16.9 per cent in the previous quarter. Its net NPA was 4 per cent against 4.7 per cent in the previous quarter.

Source: IANS

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