Yes Bank reported a robust financial performance for the second quarter. Net profit surged 65% year-on-year (YoY) to ₹1,080 crore, powered by solid core operating income growth and a continued enhancement in asset quality. The lender also crossed major balance-sheet thresholds, with total assets crossing ₹5 lakh crore, deposits surpassing ₹3.5 lakh crore, and advances exceeding ₹3 lakh crore.
The private lender said it had not considered the Supreme Court ruling on additional tier-I (AT-I) bonds amounting to ₹8,415 crore in its quarterly results, for now.
MUST READ | YES Bank Q2 profit rises 65% to Rs 1,080 cr; proforma impact of restatement of AT-I bonds revealed
The lender's operating profit for the quarter rose 29.4% YoY to ₹1,678 crore, bolstered by a 22.7% jump in net interest income to ₹2,822 crore. Core fees grew 15.5% YoY, driving total net income to ₹4,704 crore.
On the asset quality front, the gross non-performing asset ratio improved to 1.2%, dropping 40 basis points YoY, while the net non-performing asset ratio stood lower at 0.2%. Total deposits expanded 19.5% YoY to ₹3,54,004 crore, with retail and branch-led deposits accounting for 58.8% of the total mix. Meanwhile, net advances climbed 23.7% YoY to ₹3,09,510 crore.
Commenting on the results and financial performance, the MD & CEO, said, “YES BANK delivered another quarter of steady performance, with net profit growing 65% YoY ₹1,080 crore, supported by healthy growth in core operating income and continued improvement in asset quality. The bank also achieved significant balance-sheet milestones, with total assets surpassing ₹5 lakh crore, deposits crossing ₹3.5 lakh crore and advances exceeding ₹3 lakh crore.”