The shares of YES Bank increased by 1.40% at ₹14.20 per share against the previous close at ₹13.75 per share, in today’s early trade. The trade opened at Rs ₹14.20 per equity share representing an inclination of 1.40%.
Private sector lender YES Bank’s net profit rose by 77 per cent at Rs 266 crore for the third quarter ended December 2021 (Q3FY22) predominantly on reduction in provisions. The net profit was Rs 151 crore in Q3FY21. Sequentially, net profit rose by 18.2 per cent to Rs 225 crore in the second quarter ended September 2021 (Q2FY22).
Net interest income (NII) declined by 31.1 per cent to Rs 1,764 crore in Q3FY22 as against Rs 2,560 crore for Q3FY21, the lender said in a stock exchange filing on Saturday. Sequentially, NII grew by 16.6 per cent from Rs 1,512 crore in Q2FY22.
The non-interest income declined by 32.5 per cent on a YoY basis to Rs 734 crore in Q3FY22 from Rs 1,087 crore in Q3FY21. Sequentially, it declined by 5.7 per cent from Rs 778 crore in the quarter ended September 2021.
Its gross advances grew by 3.8 percent to Rs 1.76 trillion in Q3FY22 as against Rs 1.69 trillion in Q3FY21. The bank has lowered the guidance for credit growth in FY22 to 10 per cent from an earlier estimate of 15 per cent.
Prashant Kumar, managing director and chief executive, said the growth in retail, MSMEs, mid-corporate segments is intact. “But there has been de-bulking and deleveraging by large corporates. This has led to the scaling down of the target. The credit growth in the nine months ended December 2021 was six per cent and the balance four per cent would happen by March,” he said.
The total deposits increased by 26 per cent to Rs 1.84 trillion in Q3 FY22 from Rs 1.46 trillion a year ago. The share of low-cost money – Current Account and Saving Account (CASA) – improved to 30.4 per cent in December 2021 from 26 per cent a year ago and 29.4 per cent in September 2021.
