Yes Bank Q3 Results: Yes Bank, the sixth largest private sector bank in the country, announced the results for the third quarter of the current financial year 2024-25 on Saturday, January 25. In the information given to the stock market, the bank said that in the December quarter, its net profit increased by 164.5 percent i.e. 2.6 times on an annual basis to Rs 612 crore. The bank’s net profit in the same quarter a year ago was Rs 231 crore. At the same time, the bank’s profit has increased by 10.7 percent on quarterly basis. The bank’s profit in the last quarter was Rs 553 crore.
Yes Bank’s net interest income increased by 10.2% to Rs 2,224 crore
According to the information given in the exchange filing, the net interest income (NII) of the bank increased by 10.2% year-on-year to Rs 2,224 crore in the December quarter. It was Rs 2,017 crore in the same quarter a year ago. While the Net Interest Margin (NIM) remained stable at 2.4 percent on an annual basis.
Yes Bank’s non-interest income in Q3FY25 stood at Rs 1,512 crore, registering a growth of 26.6% YoY and 7.5% YoY.
Yes Bank’s asset quality also improved
Asset quality metrics witnessed continued improvement during the December quarter. On a year-on-year basis, the gross non-performing assets (GNPA) ratio has improved, and stood at 1.6% in Q3FY25, compared to 2.0% in Q3FY24. GNPA ratio remained stable on quarterly basis (QoQ).
The Net Non-Performing Asset (NNPA) ratio has also improved. It stood at 0.5% in Q3FY25, significantly lower than 0.9% in Q3FY24. The NNPA ratio remained stable compared to the previous quarter (Q2FY25) and stood at 0.5%.
CASA ratio improved to 33.1% in Q3FY25 from 29.7% in the same quarter last fiscal.
Yes Bank earned profit for the fifth consecutive quarter
Prashant Kumar, Managing Director and CEO, Yes Bank, said, “Q3FY25 is the fifth consecutive quarter when the bank has seen a consistent growth in profits. The bank’s Return on Assets (RoA) has also increased from 0.5% to 0.6% in the last three quarters. It is a matter of happiness that now the operating profitability of the bank has also started improving.
The bank’s current account balances registered a growth of 21.1% year-on-year (YoY), while the average current account growth stood at 22.1% YoY. At the same time, a strong growth was also seen in the bank’s savings account balances, which increased by 33.3% on an annual basis and 9.2% on a quarterly basis.
Average Savings Account Balances recorded an increase of 32.1% year-on-year.