Private lender Yes Bank’s standalone net loss widened marginally to Rs 3,788 crore in the March quarter of FY21 as against net loss of Rs 3,668 crore a year ago. The lender posted net profit of Rs 148 crore in the December quarter.
Deposits rose 55 per cent on an annual basis to Rs 1.62 trillion. Net interest income declined 23 per cent to Rs 987 crore as against Rs 1,274 crore in the year-ago period.
“FY21 was the year of rebuilding the foundation of YES Bank. Bank demonstrated significant improvement in performance across key indicators despite severe headwinds of Covid-19 and moratorium imposed on the bank in March 2020,” the lender said on Friday in a stock exchange filing.
Provisions rose 7.5 per cent during the quarter to Rs 5,240 crore as compared to Rs 4,872 crore in March 2020.
Despite elevated slippages, the bank has prudently made accelerated provisioning reflected in the Provision Coverage Ratio (PCR) for NPA at 79 per cent, said YES Bank.
On Friday, the bank’s scrip on NSE closed 0.7% higher at Rs 14.60.