Yes Bank Reports Strong Q3 Profit Surge Amid Improved Loan Provisions

Yes Bank reported a significant increase in net profit for Q3, reaching Rs 612 crore. This was driven by reduced provisions for bad loans and a rise in total income to Rs 9,341 crore. The bank's asset quality improved with lower bad loans and a healthy liquidity ratio.

Yes Bank has demonstrated a noteworthy financial performance for the third quarter ending December 2024, with its net profit soaring nearly threefold to Rs 612 crore. This remarkable increase has been largely attributed to a reduction in provisions for bad loans.

The bank's financial metrics show a growth in total income, which rose to Rs 9,341 crore from Rs 8,179 crore the previous year. Interest income increased significantly, while net interest income rose by 10% to Rs 2,224 crore.

In terms of asset quality, Yes Bank saw improvements, with a gross non-performing assets ratio decreasing to 1.6%, and net NPAs declining to 0.5%. Provision Coverage remained robust at 71.2%, and the average Liquidity Coverage Ratio stayed healthy at 133.2%, despite a slight dip in Capital Adequacy Ratio.

(With inputs from agencies.)