Private sector lender, Yes Bank registered a net profit of ₹367 crore for the quarter ending March 31, 2022, against a net loss of ₹3,788 crore witnessed in the same quarter of the previous fiscal. PAT rises by a whopping 37.9% on a quarter-on-quarter basis.
Yes Bank had posted a net profit of ₹266 crore as of December 31, 2021.
Net interest income (NII) stood at ₹1,819 crore in Q4FY22 rising by a huge 84.4% from ₹987 crore in Q4 of FY21. The NII was marginally up 3.1% from ₹1,764 crore in the preceding quarter.
Net interest margin (NII) stood at 2.5% in Q4FY22 versus 2.4% in Q3FY22 and 1.6% in Q4FY21.
Provisions steeply dropped to ₹271 crore in Q4FY22 – down by 94.7% from ₹5,113 crore in Q4FY21 and lower by 27.7% from ₹375 crore in Q3FY22.
Prashant Kumar, MD & CEO, YES BANK said, “This transformation journey taking place at YES Bank has resulted into a sustained improvement in balance sheet growth, accelerated granularization, improving asset quality trends, enhanced liquidity and stronger capital position over the past 2 years. While the core operating profitability of the franchise continues to improve, the drag from legacy stressed assets has significantly reduced, resulting in Net Profitability.”
Kumar added, “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 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.”