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Business EconomyPosted at: Apr 30 2022 4:23PM


Yes Bank reports PAT of Rs 367.46 cr

Mumbai, April 30 (UNI) Private sector lender Yes Bank on Saturday reported a net profit of Rs 367.46 crore for the quarter ended on March 31, largely on the back of an improvement in net interest income and lower provisions.
The bank had reported a loss of Rs 3,787.75 crore in Q4 FY 21, it said in a regulatory filing.
Its net interest income (NII) for the quarter improved by 84.4 per cent to Rs 1,819 crore from Rs 987 crore in the corresponding period.
The bank's provisions for the quarter declined sharply by 94.7 per cent to Rs 271 crore from Rs 5,113 crore in Q4 FY21.
For the full year FY22, Yes Bank reported a profit of Rs 1,066 crore against a loss of Rs 3,462 crore last year.
"FY22 is the first full year profit since FY19," the lender said.
Its NII for FY22, however, declined 12.5 per cent to Rs 6,498 crore from Rs 7,429 crore in the FY21.
The provisions for FY22 declined by 84.2 per cent to Rs 1,480 crore from Rs 9,383 crore last year, aided by lower slippages at Rs 5,795 crore, down 51 per cent Y-o-Y, and higher recoveries and upgrades at Rs 7,290 crore.
Commenting on the results and financial performance, Prashant Kumar, MD and CEO, Yes Bank, said: “This transformation journey taking place at Yes Bank has resulted into sustained improvement in balance sheet growth, accelerated granularization, improving asset quality trends, enhanced liquidity and stronger capital position over the past two years."
He further said that while the core operating profitability of the franchise continues to improve, the drag from legacy stressed assets has significantly reduced, resulting into net profitability.
"The bank continues to invest in its digital infrastructure in its quest to retain its dominant place in the country’s digital payments and fintech ecosystem. The bank has built up significant momentum in the new business generation, while continuing to invest in its platform and people to build a differentiated franchise that delivers sustainable and profitable growth in a responsible manner," Kumar added.
Total deposits grew 21 per cent y-o-y at Rs 197,192 crore with a CASA ratio 31.1 per cent as against 26.1 per cent in FY21.
The bank's gross non-performing assets (NPAs) stood Rs 27,975.98 crore as on March 31, registering a decline from Rs 28,609.53 last year. Similarly, its net NPAs came down to Rs 8,204.53 crore from Rs 9,813.36 crore as on March 31, 2021.
Thus, the GNPA ratio was lower at 13.9 per cent while the net NPA stood at 4.5 per cent.
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