Yes Bank returns in profit, profit of Rs 367 crore in March quarter, 84 percent increase in NII
Yes Bank returns in profit
This is the first time since the financial year 2019 that the bank has registered profit for a full year. The asset quality of the bank has improved during the quarter, along with better net interest margins
private sector Yes Bank ,Yes Bank Once again profitable. According to the results released by the bank, the March quarter (Q4 ResultsNet profit of the bank in ) (Profit) has been Rs 367 crore. The bank had a loss of Rs 3,788 crore in the same quarter last year. During this period, there has been a sharp jump of 84 percent in the net interest income of the bank. At the same time, the bank has also become profitable for the whole financial year, the bank has registered a profit of Rs 1066 crore for the whole year. Due to this, the bank had a loss of Rs 3,462 crore in the last financial year. At the same time, the bank had recorded a loss of Rs 22,715 crore in the financial year 2020. The bank has informed that this has been the first financial year since the financial year 2019 when it has registered profit.
How were the quarterly results
According to the bank, in the quarter ended March of the financial year 2021-22, the bank reported a net profit of Rs 367 crore. The bank had a net loss of Rs 3,788 crore in the same quarter of the last financial year 2020-21. Compared to the December quarter, the bank’s fourth quarter net profit increased by 38 percent, in the December quarter the bank had a profit of Rs 266 crore. At the same time, the total income during the January-March period of the last financial year increased from Rs 4,678.59 crore to Rs 5,829.22 crore as compared to the corresponding quarter of the previous financial year. However, the total income for the full year has been Rs 22,285.98 crore in 2021-22, which was Rs 23,053.53 crore in 2020-21. At the same time, the net interest income of the bank has been Rs 1819 crore, which is 84.4 percent higher than the NII of Rs 987 crore in the corresponding quarter of the last financial year. Net interest margin stood at 2.5 per cent, in the same quarter last year at 1.6 per cent and in the December quarter at 2.4 per cent.
asset quality improvement
There has been an improvement in the asset quality of the bank during the quarter. The gross NPA of the bank has been at 13.9 percent. At the same time, in the same quarter of the previous financial year, gross NPAs were at 15.4 percent. Net NPAs during the quarter have improved to 4.5 per cent from 5.9 per cent last year, after the results, said bank CEO Prashant Kumar, adding that these results have been seen due to the transformation efforts in the bank. Due to which not only the profit of the bank has improved, but there has also been an improvement in the asset quality of the bank.
