Yes Bank's Q1 net profit rose 47% to Rs 502 crore due to reduced provisions and strong loan growth.

Yes Bank Q1 net profit surges 47% to Rs 502 crore, driven by reduced provisions and strong loan growth. Net interest income rose 12%, while deposits increased by over 20%. The gross non-performing asset ratio declined to 1.7%, and the net NPA ratio fell to 0.5%. The bank received a write-back of Rs 318 crore on provisions for investments, while provisions for taxation and non-performing assets increased.

July 20, 2024
16 Articles