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News Topical, Digital Desk : Yes Bank, included in BSE 100, has released its first quarter results. The bank has reported a 59 percent increase in quarterly standalone profit compared to last year. According to the bank, net interest income has increased by 6 percent on a year-on-year basis. On a quarter-on-quarter basis, the bank's NPAs have remained stable. In the first quarter, the bank's other income has seen a jump of 44 percent compared to last year. In the last session, the stock saw a slight increase amid the market decline.
How were the quarterly results?
The bank's standalone profit for the first quarter has increased from Rs 502.4 crore to Rs 801 crore as compared to last year. It has seen a growth of 59.4 percent on a year-on-year basis. The consolidated figure of profit has been Rs 808.7 crore and it has increased by 57 percent compared to last year. At the same time, the net interest income of the bank has increased from Rs 2244 crore to Rs 2371.5 crore. That is, it has registered a growth of 5.7 percent. Net interest income is the difference between the interest earned by the bank and the interest paid. During the quarter, the bank's other income has seen a good jump. Other income has increased by 46 percent to Rs 1752 crore during this period. The asset quality of the bank has seen stability on a quarter-on-quarter basis and gross NPA remained stable at 1.6 percent and net NPA at 0.3 percent during this period. Gross NPA in value has increased from Rs 3935.6 crore to Rs 4022 crore as compared to the previous quarter. Net NPA is at Rs 797.3 crore as compared to Rs 800 crore. During the quarter, the bank's provisions have come down from Rs 317 crore to Rs 284 crore as compared to the March quarter. Net interest margin has remained stable at 2.5 percent as compared to the March quarter, although it has increased by 10 basis points as compared to last year. During the quarter, the bank's slippages have increased from Rs 1223 crore to Rs 1458 crore on a quarter-on-quarter basis.
How was the business performance? The bank has recently shared the business updates for the quarter. The bank's loan growth has seen further slowdown and the growth has come down even below the level since March, which was already at the lowest level in 7 quarters. In this quarter, the bank's advances grew only 5.1% compared to last year and fell 2% compared to the previous quarter to 2.41 lakh crores. At the same time, deposits grew 4% year-on-year to ₹2.75 lakh crores, but decreased by 3% from the March quarter. Yes Bank's credit-deposit ratio stood at 87.5% at the end of the June quarter, while it was 86.5% in March and 86.6% in June last year. Liquidity coverage ratio (LCR) increased to 135.7% in this quarter, which was 125% in the previous quarter and 137.8% last year. The bank's slippage ratio was the lowest in the last 10 quarters this quarter.
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